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7/23/2003
Change of ownership of Laeis Bucher Technology GmbH

Press release

Bucher Industries and Sacmi Cooperativa Meccanici Imola a.r.l., Italy, have signed a letter of intent to negotiate a 100% ownership interest of Sacmi Group in Laeis Bucher Technology GmbH. Sacmi with its leading position in the ceramics industry is the ideal strategic partner to further expand the business of Laeis Bucher Technology GmbH. Laeis Bucher Technology GmbH, a subsidiary of Bucher Industries, is a leading global supplier of hydraulic presses, kilns and complete plants for the refractory industry. In addition, the company produces presses and process technologies in the field of the ceramics industry and other industrial applications including carbon-graphite products and cement bonded construction materials. Sacmi Group is an international industrial group with its headquarters in Imola, Italy active in ceramics, plastics, filling & packaging and food industries. Sacmi’s ceramics division holds world leading positions in design and manufacturing of machinery and complete plants for tiles, table and sanitaryware, refractory industry and for the production of extruded products. In 2002 Sacmi Group achieved total sales of 829 million Euro with 3164 employees. The intended takeover of Laeis Bucher Technology GmbH by Sacmi will result in the globally leading position for hydraulic presses for the refractory and tile industries. Within the Sacmi group Laeis Bucher Technology GmbH is foreseen to become the center of competence for presses, kilns and complete plants for the refractory industry. Karl Eping will continue to manage the operations of Laeis Bucher Technology GmbH. It is planned to conclude the transaction by the end of the third quarter 2003 after the negotiations of a final contract and the approval of the respective governmental authorities. LB Produktion GmbH is not affected by this planned transaction and will continue to supply its manufacturing and assembly services under a supplier agreement to Laeis Bucher Technology GmbH and third parties. Bucher Industries is looking into various forms of cooperation with partners for LB Produktion GmbH.
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