The Board of Directors of Uster Technologies AG has noted that Toyota Industries Corporation has, as expected, increased its equity stake in Uster Technologies AG through the previously announced acquisition of the shares held by Groupe Alpha. On completion of this transaction, Toyota Industries Corporation will own 50.34% of all publicly owned shares in Uster Technologies AG.
The Board of Directors has also noted Toyota Industries Corporation's confirmation that it will make a public offer for all outstanding shares in Uster Technologies AG within the statutory deadline. The independent members of the Board of Directors continue to recommend that shareholders do nothing for the time being about the announced offer, but wait until the Board delivers its official response to this offer.
The Uster Group is a leading manufacturer of products for quality control in the textile industry. The Group provides high-tech systems and services that help ensure optimization of quality at each individual stage of textile production; from the raw textile fibre, such as cotton, wool or synthetic filament yarns, to the final finished fabric.