DGAP-News: SKW Stahl-Metallurgie Holding AG: European Court decides on claim of nullity against fine from the year 2009

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| Source: EQS Group AG
DGAP-News: SKW Stahl-Metallurgie Holding AG / Key word(s): Legal
Matter
SKW Stahl-Metallurgie Holding AG: European Court decides on claim of
nullity against fine from the year 2009

23.01.2014 / 14:03

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Unterneukirchen (Germany), January 23, 2014. The Court of Justice of the
European Union rejected, in the context of its rendition of judgment of
today, the claim of nullity brought forward by companies of the SKW
Metallurgie Group against the antitrust fine of the year 2009.
Moreover, the Court of Justice of the European Union assessed, by another
decision of today relating to the claim of nullity brought forward by
Gigaset AG against the same fine, the fine levied onto Gigaset AG at EUR
12.3 million; other than that, that claim was rejected as well.
The SKW Metallurgie Group currently assumes, relating to the maximum fine
in the amount of EUR 13.3 million levied in this matter also onto companies
outside the Group through joint and several liabilities, that economically
it will not have to bear any fine at least in the amount of EUR 12.3
million, since according to the assessment of the SKW Metallurgie Group,
full liability is with the then corporate parent ARQUES Industries AG (now:
Gigaset AG) at least for that amount, in the context of the execution of
internal compensation proceedings.
This assessment is also confirmed by Oberlandesgericht München (Upper
Regional Court München) in the context of the reasons for its decision of
February 9, 2012. While also referring to the reasons for the decision by
the Regional Court, in its ruling, the Upper Regional Court München also
ascertained that 'it is not the defendant [SKW Stahl-Metallurgie Holding AG
und SKW Stahl-Metallurgie GmbH] that has to bear the monetary fine, but the
plaintiff [Gigaset AG]'. Regarding to this legal case, a final ruling by
Bundesgerichtshof [Federal High Court] is currently pending.
The SKW Metallurgie Group will intensely evaluate the appropriate financial
classification of this matter. Based on currently available information and
their first review, the creation of a provision for the fine is to be
assumed in the amount of EUR 1 million. In addition, the provisions created
for legal fees will be re-evaluated.
After intense assessment of the written opinion of the court, the SKW
Metallurgie Group will decide on further steps. The judgment is to become
legally binding in two months at the earliest.
Should the SKW Metallurgie Group have to remit payments to the European
Commission regarding this matter, the required cash positions would be
available.

Further information on the Group can be found online at: www.skw-steel.com.


Contact
SKW Stahl-Metallurgie Holding AG 
Christian Schunck 
Head of IR and Corporate Communications
Rathausplatz 11 
84579 Unterneukirchen
Germany 
Telephone IR/Press: +49 89 5998923-22
Fax: +49 89 5998923-29
E-mail: schunck@skw-steel.com
Internet: www.skw-steel.com

About SKW Stahl-Metallurgie Holding AG
The SKW Metallurgie Group is the global market leader for chemical
additives for hot metal desulphurization, and for cored wire used in
secondary metallurgy. The Group's products enable steel-makers to
efficiently manufacture high-quality steel products. Clients include the
world's leading companies in the steel industry. The SKW Metallurgie Group
has more than 50 years of metallurgical know how, and currently operates in
more than 40 countries. What is more, the Group is a leading supplier of
Quab specialty chemicals, which are mainly used in the global production of
industrial starch for the paper industry. The company's operating business
is broken down into the two core segments 'Cored Wire' and 'Powder and
Granules', and the 'Other' segment. The SKW Metallurgie Group is
headquartered in Germany with production facilities in France, the US (6),
Canada, Mexico, Brazil, South Korea, Sweden, Bhutan, Russia, the Peoples'
Republic of China (2) and India (2 via joint venture).
Shares of SKW Stahl-Metallurgie Holding AG have been listed in Frankfurt
Stock Exchange's Prime Standard since December 1, 2006 with ISIN
DE000SKWM013 (from August 15, 2011: new ISIN DE000SKWM021).

DISCLAIMER
This press release contains statements on future developments that are
based on currently available information and involve risks and
uncertainties that could cause the actual results to differ from these
forward-looking statements. These risks and uncertainties include, for
example, unpredictable changes in political and economic conditions,
particularly in the steel and paper industry, the competitive situation,
interest and currency risks, technological development as well as other
risks and unexpected circumstances. SKW Stahl-Metallurgie Holding AG and
its Group companies accept no obligation to update such forward-looking
statements.


End of Corporate News

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23.01.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:    English                                               
Company:     SKW Stahl-Metallurgie Holding AG                      
             Rathausplatz 11                                       
             84579 Unterneukirchen                                 
             Germany                                               
Phone:       +49 (0)8634 62720-15                                  
Fax:         +49 (0)8634 62720-16                                  
E-mail:      info@skw-steel.com                                    
Internet:    www.skw-steel.com                                     
ISIN:        DE000SKWM021                                          
WKN:         SKWM02                                                
Listed:      Regulierter Markt in Frankfurt (Prime Standard);      
             Freiverkehr in Berlin, Düsseldorf, Hamburg, München,  
             Stuttgart                                             
 
 
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