Cologne, Germany, October 16, 2013 – In light of the voluntary takeover offer from AVIC the management board of KHD Humboldt Wedag International AG has taken the decision not to participate in the “Deutschen Eigenkapitalforum” in November in Frankfurt.
Due to unexpected profit deterioration in the latest cost estimations of a few major projects, KHD Humboldt Wedag International AG (KHD) will not reach its margin guidance for the 2013 financial year.
According to preliminary unaudited figures, KHD will close 2013 with a significant increase in revenues, EBIT between € 1 – 2 million and EBIT margin of less than 1.0%.
“Volskcement” OJSC Russia (Holcim Group) has placed an order with Zementanlagenbau GmbH Dessau (ZAB), a subsidiary of KHD Humboldt Wedag International AG (KHD), to construct a production line in the Volsk cement factory. The scope of the contract, with an order value of over € 77 million, comprises engineering and the delivery of equipment. The project is scheduled to run until the end of 2016.
AVIC International Engineering Holdings Pte. Ltd., Europe Project Management Pte. Ltd., Europe Technology Investment Pte. Ltd. and Europe Engineering Holdings Pte. Ltd. published today in accordance with sec. 10 of the Securities Acquisition and Takeover Act their decision to make a joint voluntary public takeover offer to all KHD Humboldt Wedag International AG shareholders to acquire their no-par value ordinary bearer shares in KHD Humboldt Wedag International AG (ISIN: DE0006578008 / WKN: 657800) against payment of a cash consideration amounting to EUR 6.45 per share.