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Please find below all Forbo media releases listed by year.
Eglisau / Zurich, 24 January 2005
The Forbo Board of Directors has taken note that Michael Pieper and companies under his control have increased their interest in Forbo to more than 20%, with 8% being listed in the share register as carrying voting rights. At the same time the Board of Directors has announced that various bidders will shortly conclude their due diligence process.
According to their own notification, Michael Pieper and two companies under his control, i.e. Franke Holding AG and Franke Beteiligungen I AG, are now in possession of more than 20 % of the shares of Forbo Holding AG. Through this strong shareholder position, Michael Pieper will strongly influence the outcome of the current bidding process. Further, Michael Pieper has informed the Board of Directors that he is in contact with various bidders. But the Board of Directors is aware of neither Mr Pieper’s concrete intentions nor the content of these contacts.
The due diligence processes carried out in recent months by interested bidders have been largely concluded. To clarify the future ownership structure in the shareholders’ and the company’s interest as soon as possible, the Board of Directors has decided to proceed as follows: Remaining due diligence actions will be completed in the next few days so that the company management can again fully focus its efforts on the day-to-day business. The unaudited accounts of the business year 2004 will be made available to the bidders by mid-February. In case an offer or preliminary notification is not published until 25 February, the Board of Directors will no longer actively pursue the process initiated by the bidders.
Forbo is a leading producer of floorings, adhesives, and beltings. The products and services are anchored and recognised worldwide. In the flooring business, the company focuses on environmentally favourable and design-oriented linoleum, high-quality cushion vinyls, and parquet. In the adhesives business, high-performance products ensure stable and permanent bonds between a wide range of materials. In the belting business, applications are developed and distributed under the „Siegling“ brand for transport, processes and drives.
The Forbo Group with head office in Eglisau, Switzerland, has some 5’600 employees today. The holding company, Forbo Holding AG, is listed at the SWX Swiss Exchange (securities number 354'151, Bloomberg FORN SW, Reuters FORZn S). Further information can be found at www.forbo.com.
Head of Corporate Communications
Tel: + 41 1 868 25 69
Fax: + 41 1 868 35 69