DGAP-Adhoc: Turbon AG: Termination of the supply relationship with Staples/Corporate Express in the USA

Turbon AG / Development of Sales

17.01.2009 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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In the course of Staples recent takeover of Corporate Express, we had
negotiations with Staples regarding the continuation of our Supply
Agreement relationship. The business with Corporate Express, executed by
our USA subsidiary, was the largest single turnover piece of the Turbon
Group in 2008, totalling US Dollar 38.8 million. The negotiations failed,
so that the turnover with Corporate Express (respectively Staples), will be
significantly lower in 2009. Based on our existing agreement, we are
planning for 2009 with US Dollar 17.5 million from the Corporate Express
business and expect the full lapse for 2010. Our flexible company structure
permits a fast adjustment of capacities and costs. This, combined with the
many cost savings measures from 2008, which have started to pay, make us
confident that our earnings figures in 2009, despite this setback, will at
least be at a similar level as 2008.
Hattingen, January 17, 2009
Turbon AG
DGAP 17.01.2009 
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Language:     English
Issuer:       Turbon AG
              Ruhrdeich 10
              45525 Hattingen
              Deutschland
Phone:        +49 (0)2324 - 504-0
Fax:          +49 (0)2324 - 504-156
E-mail:       info@turbon.de
Internet:     www.turbon.de
ISIN:         DE0007504508
WKN:          750450
Listed:       Regulierter Markt in Frankfurt (General Standard),
              Düsseldorf; Freiverkehr in Berlin, Hamburg, München,
              Stuttgart
End of News                                     DGAP News-Service
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