Business Wire

3W Power/AEG Power Solutions completes sale of Fluxpower and Primetech to an international industrial Group

Del

3W Power S.A. (ISIN LU1072910919, 3W9K), the holding company of AEG Power Solutions Group, a global provider of power supply solutions and service for critical infrastructure, announces the completion of the sale of its subsidiaries Fluxpower GmbH and Primetech Srl. to an international industrial group.

AEG PS today completed the sale of Fluxpower and Primetech. Of the net proceeds, € 5.0 million will be used to pay down long term debt and the remainder will be reinvested into the Company’s core Industrial UPS business. Under the terms of the Company’s Bondholder agreement (DE000A1ZJZB9), AEG PS will make a pro rata tender offer in February which will reduce the principle amount from € 50 million to € 45 million and cut its interest expense up to € 1.7 million through 2019.

The sale further improves the Company’s balance sheet and reduces operating risk through the continued process of simplifying business activities and improving focus.

Jeffrey Casper, AEG PS CEO explained, “I am very pleased that we have managed to both further simplify our business and find a suitable home for Fluxpower and Primetech. The management teams of Fluxpower and Primetech have been terrific additions to AEG PS these past years. Consistent with our plan to narrow our focus and grow in our core markets of critical infrastructure, these divestments enable us to accelerate our progress.”

The company finished 2015 very much within expectations and has a confident outlook heading into 2016. Despite recent volatility and issues in industrial markets, AEG PS benefits from vertical market and geographic diversification. The core business of critical power is somewhat insulated from volatility because of the mission critical nature of its applications. The Company expects to grow like for like in 2016 and improve its profitability with a medium term outlook of double digit top line growth and improving profit margins toward an EBITDA margin of 10%.

Looking forward, Jeffrey Casper stated, “I am excited about the future of AEG PS. After a long road of operational improvement and restructuring, we have substantially reduced risk, simplified and improved our operations. We have retained, promoted and recruited exceptional talent. This is all beginning to show in improved business performance and a far brighter outlook. Add to the fact that we are in times of economic uncertainty, I believe critical power is an highly attractive place to be.”

A separate notice in the legally required form will communicate the tender offer for bondholders and the relevant aggregate amount in February 2016.

-- End of Announcement --

About 3W Power/AEG Power Solutions:

3W Power S.A. (WKN A114Z9 / ISIN LU1072910919), based in Luxembourg, is the holding company of AEG Power Solutions Group. The Group is headquartered in Zwanenburg in the Netherlands. The shares of 3W Power are admitted to trading on Frankfurt Stock Exchange (ticker symbol: 3W9K).

For more information, visit www.aegps.com

This communication does not constitute an offer or the solicitation of an offer to buy, sell or exchange any securities of 3W Power. This communication contains forward-looking statements, which include, inter alia, statements expressing our expectations, intentions, projections, estimates, and assumptions. These forward-looking statements are based on the reasonable evaluation and opinion of the management but are subject to risks and uncertainties, which are beyond the control of 3W Power and, as a general rule, difficult to predict. The management and the company cannot and do not, under any circumstances, guarantee future results or performance of 3W Power and the actual results of 3W Power may materially differ from the information expressed or implied in the forward-looking statements. As a result, investors are cautioned against relying on the forward-looking statements contained herein as a basis for their investment decisions regarding 3W Power.

3W Power undertakes no obligation to update or revise any forward-looking statement contained herein.

Contact information

For further information, please contact:
Hillermann Consulting
Investor Relations for AEG Power Solutions
Christian Hillermann, +49 40 320 279 10
investors@aegps.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

ADC Therapeutics Presents Interim Phase I Data from its Novel Antibody-Drug Conjugate ADCT-40211.12.2017 06:00Pressemelding

ADC Therapeutics (ADCT), an oncology drug discovery and development company that specializes in the development of proprietary Antibody Drug Conjugates (ADCs) targeting major cancers, today announced clinical data from two ongoing Phase I clinical trials evaluating ADCT-402 (loncastuximab tesirine or “Lonca-T”) in important subtypes of lymphoma and leukemia. The data were presented at the 59th American Society of Hematology (ASH) Annual Meeting in Atlanta, USA. 1. Interim results of a Phase I open label, single agent, dose-escalating study of ADCT-402 evaluating tolerability, safety, pharmacokinetics and efficacy in patients with relapsed or refractory B-cell Non-Hodgkin Lymphoma Dr. Brad Kahl, M.D., Professor for Medical Oncology at the Washington University School of Medicine in St. Louis, said: “A significant number

GA Telesis Launches Leveraged Finance Group with the Appointments of David Lloyd and Nolan Heske11.12.2017 05:01Pressemelding

GA Telesis, LLC (“GAT”) announces the launch of its Leveraged Finance Group (“LFG”) to provide secured aircraft financing for lessors, investors, and airlines. GAT has appointed David Lloyd and Nolan Heske as Managing Directors of LFG to pursue the development, execution and growth of this strategy. The LFG management team has over 35 years of combined experience in the aircraft and transportation finance sector. Prior to joining GAT, Mr. Lloyd and Mr. Heske cofounded Air Funding in 2016 to provide an alternative source of direct lending on commercial aircraft to lessors and airlines. Prior to Air Funding, David Lloyd spent 12 years at Carlson Capital as Head of Credit, Airlines & Aerospace. Mr. Lloyd was the group founder and was responsible for a portfolio with peak assets of $475 million. Mr. Lloyd also held executive positions at Credit Suisse and Chase Securities. No

AstraZeneca’s Calquence (acalabrutinib) Shows Potential in Chronic Lymphocytic Leukaemia Trials10.12.2017 22:45Pressemelding

AstraZeneca and Acerta Pharma, its haematology research and development centre of excellence, today presented results from the Phase Ib/II ACE-CL-003 clinical trial (Abstract #432) and updated results from the Phase I/II ACE-CL-001 (Abstract #498) clinical trial that are testing Calquence (acalabrutinib) alone and in combination for the treatment of chronic lymphocytic leukaemia (CLL) in multiple treatment settings. The findings were presented during two oral sessions at the 59th American Society of Hematology (ASH) Annual Meeting & Exhibition in Atlanta, USA. Sean Bohen, Executive Vice President, Global Medicines Development and Chief Medical Officer at AstraZeneca, said: “These data add to the growing body of evidence that supports the potential of Calquence in the treatment of chronic lymphocytic leukaemia, a life-threatening disease that affects tens of thousands of people aroun

Celgene Corporation and bluebird bio Announce Updated Results from Ongoing Multicenter Phase 1 Study of bb2121 Anti-BCMA CAR T Cell Therapy in Patients with Late Stage Relapsed/Refractory Multiple Myeloma at ASH Annual Meeting10.12.2017 15:30Pressemelding

Celgene Corporation (NASDAQ: CELG) and bluebird bio, Inc. (Nasdaq: BLUE) today announced that updated results from the ongoing CRB-401 Phase 1 clinical study of bb2121, an investigational anti-B-cell maturation antigen (BCMA) CAR T cell therapy, in 21 patients with late-stage relapsed/refractory multiple myeloma will be presented in an oral presentation at the American Society of Hematology (ASH) Annual Meeting in Atlanta, Georgia. The objective of this Phase 1 dose-escalation study is to evaluate safety and efficacy of bb2121 and determine a recommended Phase 2 dose. “Celgene has a longstanding commitment to patients with multiple myeloma through our extensive research efforts in this deadly blood cancer,” said Nadim Ahmed, President, Hematology and Oncology for Celgene. “Looking ahead, we see BCMA as an important target in this disease and we believe bb2121 has the potenti

Kite Announces Long-Term Data From Pivotal ZUMA-1 Study of Yescarta™ (Axicabtagene Ciloleucel) in Patients With Refractory Large B-cell Lymphoma10.12.2017 15:30Pressemelding

Kite, a Gilead Company (Nasdaq: GILD), announced long-term follow-up data from the pivotal ZUMA-1 study of Yescarta™ (axicabtagene ciloleucel) in patients with refractory large B-cell lymphoma. With a minimum follow-up of one year after a single infusion of Yescarta (median follow-up of 15.4 months), 42 percent of patients continued to respond to therapy, including 40 percent with a complete remission. Detailed results from this updated analysis were simultaneously presented at the Annual Meeting of the American Society of Hematology (ASH) in Atlanta and published in The New England Journal of Medicine. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171210005072/en/ Yescarta is the first chimeric antigen receptor T (CAR T) cell therapy to be approved by the U.S. Food and Drug Administration (FDA) for the treatment of adult

Takeda and Seattle Genetics to Present Positive Data from Phase 3 ECHELON-1 Clinical Trial Evaluating ADCETRIS® (brentuximab vedotin) in Frontline Advanced Hodgkin Lymphoma10.12.2017 13:00Pressemelding

Takeda Pharmaceutical Company Limited (TSE:4502) and Seattle Genetics, Inc. (NASDAQ: SGEN) today announced that data from the Phase 3 ECHELON-1 clinical trial evaluating ADCETRIS (brentuximab vedotin) as part of a frontline combination chemotherapy regimen in untreated advanced classical Hodgkin lymphoma will be presented in the Plenary Scientific Session at the 59th American Society of Hematology (ASH) annual meeting on Sunday, December 10, 2017. The data were also simultaneously published online in the New England Journal of Medicine and will be published in the print edition on January 25, 2017. Topline data were reported in June 2017 demonstrating the ECHELON-1 trial met its primary endpoint of a statistically significant improvement in modified progression-free survival (modified PFS) per Independent Review Facility (IRF) versus the control arm. ADCETRIS is an antibody-drug con

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom