Bucher Industries volunteers offer to acquire Jetter

17th September 2013

Jetter AG

Nat Bowers

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Bucher Industries announces a voluntary takeover offer for the purchase of all shares in Jetter. Bucher Industries intends to make the shareholders of Jetter a voluntary, public takeover offer via a subsidiary for a price of EUR 7.00 per share. Bucher Industries has held a stake in Jetter since 2005, most recently to about 30%.

Bucher Industries is planning to strengthen the competence of Jetter AG in the area of automation solutions and to expand its market share. The aim of the takeover offer is to acquire all of the shares in Jetter AG. The Supervisory Board and Management Board of Jetter AG support the takeover offer.

Since 2002, Jetter has been an important partner of Bucher Industries, not only developing and manufacturing electronic control systems for Emhart Glass, but also supplying the electronics for municipal vehicles manufactured by Bucher Municipal. In the past two financial years, Jetter generated on average around 50% of its turnover with the Bucher Group, with the majority of that turnover being accounted for by the Emhart Glass division. With its operations in a broad-based market and its leading technology, Jetter AG has qualified itself as a suitable partner for Bucher, which is not active in the area of electronic automation.

The founder of the company, Mr Martin Jetter, will continue to be responsible for the development of Jetter AG and in doing so bring his extensive knowledge and many years of experience in the area of automation technology to bear. The Supervisory Board and Management Board of Jetter AG have unanimously arrived at the decision that the takeover offer is in the best interests of Jetter as well as of its shareholders, employees and customers. In the transaction agreement concluded between Jetter AG and Bucher Industries, both companies declared that they would support the takeover over to the best of their abilities.

Mr Martin Jetter intends to resign from his position as member and chairman of the Management Board of Jetter AG on 31 December 2013 and to subsequently take a seat on the Supervisory Board. He will be succeeded as chairman by Mr Christian Benz, who was appointed to the Management Board on 1 April 2013. Mr Benz emphatically welcomes the enhanced opportunities for Jetter AG presented by the upcoming takeover. "Our goal for Jetter must be not only for the company to be seen as the supplier of technology to the Bucher Group, but also for it to continue securing market share in the industrial and mobile automation segment through highly active market cultivation."