Gamma Holding intends to sell the car fabrics activities of its Belgian subsidiary De Witte Lietaer and its French subsidiary Delcar to the German company AUNDE Achter & Ebels GmbH. Turnover of the activities to be sold amounts to approximately EUR 110 million. AUNDE is an important supplier of automotive fabrics.
Gamma Holding aims to conclude the transaction in the first quarter of 2007. No statements will be made regarding the sum involved. Combined, De Witte Lietaer and Delcar have a total of approximately 420 employees. The proposed sale is not expected to have any impact on employment. Consultation with the social partners about this transaction took place today.
Furthermore, Gamma Holding has sold its 50% interest in the Indian car upholstery producer Bhilwara Melba De Witte Private Ltd. to two foreign investors.
Both transactions take place in view of the previously announced intention to sell the Car Fabrics activities, which have been part of discontinued operations since the end of 2005. As part of this intention, both Ames Europe and the house linen activities of De Witte Lietaer were sold as announced earlier in 2006. The results over 2006 of discontinued operations, including these transactions, is expected to be nought.
The sale of discontinued operations will be completely finalised with this sale.
To conclude it can be announced that the sale of the curtain fabrics and wall decoration activities of the Sleep CareFabrics business unit, as announced on 5 December 2006, has been finalised. The activities have been sold to Escofin N.V., a Belgian company specialised in decoration textile. No statements will be made regarding the sum involved.
Gamma Holding will present its annual figures 2006 on 23 February next, before market.
Gamma Holding NV, Netherlands