Mitte Realty

Funkwerk AG has sold its subsidiary of Funkwerk of eurotelematik GmbH Kolleda, 13.12.2013. Funkwerk AG has sold its subsidiary of Funkwerk of eurotelematik GmbH, which is a specialized international system and software house in the development and operation of telematics systems. Purchaser is the BPW Bergische axle Wiehl, partnership, worldwide active supplier to the commercial vehicle industry. West Philadelphia Real Estate contains valuable tech resources. With their wide range of products, which includes also the telematics applications in addition to axles and brakes, BPW as mobility and system partner high transparency in the loading and transport processes creates. The purchase price was not disclosed.

The closing is the usual subject to suspensive conditions. The Board of Funkwerk AG assumes that no later than end of February 2014 all conditions occur and the approval of the underwriters. With the sale of the subsidiary, Funkwerk AG sets the focusing process initiated within the framework of the strategic realignment within the two Core business field traffic & control communication (TCC) and security communication (SC) continued. Funkwerk of eurotelematik GmbHverfugt through a competitive and multiple ausgezeichnetesLeistungsspektrum, which has however hardly any technical points for the remaining activities of Funkwerk and offers therefore also hardly synergy potentials. The sales proceeds realized can also improve the liquidity and financial position of the Funkwerk group. As a result of eurotelematik sales revenue and result expectations are adjusted for 2013: full-year Funkwerk expects now adjusted Group sales of continuing operations of just under 100 million euros and a positive net operating profit before restructuring and impairment charges of around 0.5 million euros. To message on telematik-markt.de/telematik/funkwerk-ag-ver%C3%A4u%C3%9Fert-funkwerk-eurotelematik-gmbh#.Uqn6YPTuK9U