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WELCOME TO THE MEDIA ARCHIVE

Please find below all Forbo media releases listed by year.

Forbo reduces participation in Rieter to below 3 percent

Forbo divests a large part of its stake in Rieter and gains additional financial flexibility.

Baar, April 13, 2010

On April 12, 2010 Forbo sold the bulk of its Rieter shares to Artemis Beteiligungen IV AG, owned by Michael Pieper, at a price of CHF 320 per share. This price is about CHF 12 higher than the average share price of the last 20 days. Forbo has thus reduced its participation in Rieter from a good 9 percent to below 3 percent.

Between spring and summer 2008 Forbo built up its participation in Rieter as an industrial investment. Owing to the impacts of the financial and economic crisis, however, Forbo’s strategic and operational priorities have changed.

Financial flexibility further increased
The divestment has been structured as a forward transaction. The delivery of the shares and the payment will take place towards the end of June 2010. With the sale of the Rieter shares Forbo will generate cash of about CHF 92 million and, as a result, will gain additional financial flexibility. Forbo will use the proceeds of the sale for its strategic and operational activities as well as for a further debt reduction. With the achieved sales price, Forbo will realize substantial financial income of around CHF 43 million before taxes for the 2010 business year.

Shareholders’ agreement with Artemis remains in force for the time being
Michael Pieper owns (through Franke Artemis Holding AG) 100% of Artemis Beteiligungen IV AG (Artemis). He holds, directly and indirectly, a stake of about 31% in Forbo. Artemis already held a participation in Rieter before this transaction. In spring 2009 Forbo and Artemis concluded a shareholders’ agreement regarding Rieter shares that will remain in force for the time being.

Expected Group profit of close to CHF 100 million from operations
Barring any major change in the economic environment, Forbo expects to post a Group profit of close to CHF 100 million for the 2010 business year; this figure does not include the financial income resulting from the sale of Rieter shares.

Forbo is a leading producer of flooring systems, adhesives, as well as power transmission and conveyor belt solutions. The company employs some 6,000 people and has an international network of 44 sites with production and distribution as well as 47 pure sales organizations in a total of 35 countries worldwide. Forbo is headquartered in Baar in the canton of Zug, Switzerland.

Forbo Holding Ltd is listed on the SIX Swiss Exchange (security number 354151, ISIN CH0003541510, Bloomberg FORN SW, Reuters FORN.s).

Contact person:

This E. Schneider
Delegate of the Board of Directors and CEO
Phone +41 58 787 25 49
Fax +41 58 787 20 49

  • Forbo Media release 13 april 2010

    Media release
    13.04.2010