Funkwerk AG, Kölleda, has sold its 100 per cent share in subsidiary Microsyst Systemelectronic GmbH (Microsyst GmbH), Weiden/Bavaria, in a management buyout to the company’s authorised signatory. The purchasing contract signed today is subject to the condition precedent of approval by the external financing partners of Funkwerk.
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The Executive Board and the Supervisory Board of Funkwerk AG, Kölleda, decided today to transfer the listing of its shares from the Prime Standard segment of the regulated market at the Frankfurt Stock Exchange to the m:access trading segment within the open market of the Munich Stock Ex-change.
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Funkwerk AG is set to sell Funkwerk Dabendorf GmbH, Zossen, effective on 1 October 2012. The subsidiary consolidates the main activities of the group’s Automotive Communication (AC) segment. Funkwerk Dabendorf will be taken over by the novero group, Düsseldorf, which specialises on aspects such as professional mobile radio equipment in the automobile sector.
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The Supervisory Board of Funkwerk AG has announced its decision to reorganise the company’s Executive Board. In the context of restructuring and the related downsizing, Funk-werk AG will in future be managed by a single director. This function will be assumed by Dr.-Ing. Manfred Lerch (52), who will be appointed to the board with effect from 1 November 2012.
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The Executive Board and the Supervisory Board of Funkwerk AG have decided today to go ahead with the merger of Hörmann-Funkwerk Kölleda GmbH registered in Kölleda with and into Funkwerk AG. Funkwerk AG holds the full stake in FWK. Within the framework of the merger, all the assets of FWK will be transferred to the parent company, Funkwerk AG. As a result, FWK will cease to exist once the merger takes effect.
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The Supervisory Board of Funkwerk AG has appointed Mr. Dr Christian Baur (42) to the group’s Executive Board with effect from April 20, 2012. Restructuring expert Dr Baur, Managing Director of consulting firm Alvarez & Marsal Germany, will temporarily reinforce the Executive Board as Chief Restructuring Officer (CRO) to help consistently implement the group’s reorientation.
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Funkwerk AG today sold all shares in Funkwerk Avionics GmbH, Waal; the subsidiary was taken over by investment and management company DREI Unternehmensbeteiligung GmbH, Lübbecke. The purchase price ranges in the significantly low single-digit millions.
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