Quanmax AG: Successful Realization of Investor Participation and Capital
Increase at S&T AG
Quanmax AG and grosso holding GmbH new majority shareholders of S&T
- Capital increase at S&T finished; equity increases after substantial
debt relief by 58 million Euro
- Consolidation of S&T AG by Quanmax AG with November 2011 leads to
forecasted sales of 150 million Euro. Net profit of 7 million Euro in
2011 expected.
- S&T profitable again in 2012
- Quanmax AG expects for 2012 sales about 300 million Euro and net profit
of 10 million Euro
S&T receives a total of 24 million Euro from issuing new shares in two
capital increases. 16 million Euro thereof directly flow to the company's
cash funds today. The capital increase was registered in the commercial
register after S&T has been granted the restructuring privilege by
the the Takeover Commission and the Austrian Monopolies and Mergers
Commission has given its approval. The core shareholders Quanmax AG and
grosso holding GmbH thus hold a total stake of approximately 70% in S&T.
Both investors will acquire further shares in 2012 at an issue price of 8
million Euro.
Substantial debt relief was arranged with the financing banks and business
partners to the amount of 42 million Euro.
Sales will increase to 150 million Euro in 2011 due to the consolidation of
the S&T Group as of November 2011. Quanmax expects net profit of 7 million
Euro for 2011.
In 2012, group sales of Quanmax AG are estimated to cross 300 million
Euro with 10 million Euro net profit after minorities. S&T Group
should become profitable in 2012, loss-generating business will be reduced.
