DGAP-Adhoc: Krones AG: Krones sees possibility of resolving US proceedings

 | Source: EQS Group AG EQS Group AG 

Krones AG  / Key word(s): Legal Matter

15.10.2012 16:39

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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Krones sees possibility of resolving US proceedings

Neutraubling, Germany, 15 October 2012 - The US company of the Krones
Group, Krones Inc. in Franklin/Wisconsin (USA), and Krones AG,
Neutraubling, Germany, see a possibility of resolving the legal disputes
running in the US since October 2008 within the framework of the ongoing
settlement talks. The subject-matter relates to proceedings involving
various parties in the US.

The proceedings related to the financial scandal involving the bankruptcy
of the US company Le-Nature's, whose senior management have meanwhile been
convicted and sentenced for fraud. During the period 2005/2006, Krones had
produced, delivered and successfully commissioned filling lines for
Le-Nature's facility in Phoenix/Arizona (USA).

In view of how the settlement talks have proceeded, and against the
background of possible risks arising from proceedings in the US, Krones
finds it prudent to increase the existing provision by USD 53 million in
the 2012 business year. As things stand at present, Krones sees good
chances for concluding the settlement negotiations on this basis within a
reasonable time frame.

Your contact person:
Olaf Scholz
Head of Investor Relations KRONES AG
Tel.:  +49 9401-70 1169
Email:  olaf.scholz@krones.com


15.10.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Krones AG
              Böhmerwaldstraße 5
              93073 Neutraubling
              Germany
Phone:        +49 (0)9401 701169
Fax:          +49 (0)9401 709 1 1169
E-mail:       investor-relations@krones.com
Internet:     www.krones.com
ISIN:         DE0006335003
WKN:          633500
Indices:      MDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard), München;
              Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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