Kontron AG / Miscellaneous
09.07.2010 19:53
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Eching, Munich, July 9, 2010. Kontron AG is forming a EUR 34 million risk
provision for outstanding receivables due from customers in Malaysia,
Taiwan and Hong Kong. The Executive Board sees itself as forced to take
this measure since contractually agreed bank guarantees have not been
presented by the agreed deadline of Friday, July 9, 2010.
The debtors are customers of Kontron Malaysia who operate in the so-called
Electronic Manufacturing Service (EMS) business where Kontron is
responsible for project management, development verification, and
large-volume contract manufacturing. Kontron Malaysia processed these
custom orders through subcontractors. Some of these business relationships
have already existed since 2007, and payment obligations have been
satisfied over the years.
Kontron is now launching civil and criminal law measures against the
debtors and the local management since there is a reasonable suspicion of
corruption. Initial research indicates that customers, subcontractors and
local management may have collaborated fraudulently to Kontron's detriment.
Kontron AG's Executive and Supervisory boards have appointed one of the
world's leading law firms.
The outstanding receivables will be fully written down in Kontron's balance
sheet in the second quarter as a precautionary measure.
Investor Relations: For further information:
Gaby Moldan Dr. Udo Nimsdorf
Kontron AG Engel & Zimmermann AG
Oskar-von-Miller-Str. 1, Agentur für Wirtschaftskommunikation
85386 Eching Schloss FuÃberg,Am Schlosspark 15,
82131 Gauting
Tel: 0049 8165/77212, Tel: 0049 89-89 35 633,
Fax: 0049 8165/77222 Fax: 0049 89-89 39 84 29
Mobil: 0049 160 96 95 12 18 Mobil: 0049 171 55 96 379
Email: Gaby.Moldan@kontron.com Email: info@engel-zimmermann.de
09.07.2010 19:53 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: Kontron AG
Oskar-von-Miller-Str. 1
85386 Eching
Deutschland
Phone: 08165-77-225
Fax: 08165-77-222
E-mail: martin.przybyla@kontron.com
Internet: www.kontron.com
ISIN: DE0006053952
WKN: 605395
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hannover, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: Kontron forms EUR 34 million risk provision
| Source: EQS Group AG