Circ re.the proposed disposal of Hansen Industrial Transmissions NV
January 27 2011 - 1:24PM
UK Regulatory
TIDMHSN
Edegem/Antwerp, Belgium - London, UK - 27 January 2011
Hansen Transmissions International posts Class 1 Circular for the proposed
disposal of Hansen Industrial Transmissions NV
Further to the announcement dated 20 December 2010 relating to Hansen
Transmissions International NV ("Hansen Transmissions", "the Company") entering
into a conditional sale and purchase agreement to dispose of the entire issued
share capital of its industrial gearbox division, Hansen Industrial
Transmissions ("HIT"), to Sumitomo Heavy Industries ("Sumitomo HI"), the Company
announces that it is today posting to its shareholders a circular, containing a
notice convening a general meeting of the Company (the "Circular").
The general meeting is to be held at Hotel Ter Elst, Ter Elststraat 310, 2650
Edegem, Belgium at 11 am CET on 23 February 2011 (the "General Meeting").
The following documents will be available shortly for inspection at the Document
Viewing Facility (National Storage Mechanism), which is located at
www.hemscott.com/nsm.do:
* the Circular;
* the Company's interim management statement released earlier today;
* the Company's prospectus dated 6 December 2007 in relation to its admission
to the LSE's Official List;
* the annual reports for the Company for the years ended 31 March 2008, 31
March 2009 and 31 March 2010; and
* the unaudited interim financial statements of the Company for the six months
ended 30 September 2010.
A copy of the Circular will also be available on the Company's website at
http://ir.hansentransmissions.com.
Shareholders should read the whole of the Circular and not rely solely on the
summarised information in this announcement.
The Circular can be inspected during normal business hours on any business day
at the offices of Allen & Overy LLP, One Bishops Square, London E1 6AD from
today up to the conclusion of the General Meeting.
For further information, please contact:
+--------------------------------------------------------+
| Hansen Transmissions International NV |
| |
| Investor Relations |
+--------------------------------------+-----------------+
| Hans Ooms | +32 3 450 58 62 |
| De Villermontstraat 9 | |
| 2550 Kontich - Belgium | |
| hans.ooms.ir@hansentransmissions.com | |
| http://ir.hansentransmissions.com/ | |
+--------------------------------------+-----------------+
+---------------------------------------------+
| Maitland |
+--------------------------+------------------+
| Sarah Hamilton | +44 20 7395 0464 |
| shamilton@maitland.co.uk | +44 7836 295 291 |
| | |
| Dan Yea | +44 20 7395 0422 |
| dyea@maitland.co.uk | +44 7595 270 691 |
+--------------------------+------------------+
About Hansen Transmissions
Hansen Transmissions International NV is an established global wind turbine
gearbox and industrial gearbox designer, manufacturer and supplier, with a
leading position (by MW supplied) in the wind turbine gearbox market. The
Company supplies gearboxes to the world's major manufacturers of gear-driven
wind turbines and provides durable gear drives for a wide range of industrial
applications throughout the world. Both Hansen's wind energy and industrial
activities have established dedicated international service networks. In
addition to its principal state-of-the-art manufacturing facilities located in
Flanders, Belgium - i.e. a wind turbine and industrial gearbox plant and a fully
integrated, dedicated wind turbine gearbox manufacturing facility - Hansen has a
production plant for wind turbine gearboxes in Coimbatore, India and an assembly
and testing plant for the Chinese market, located in Tianjin, China. Hansen has
currently wind turbine gearbox manufacturing capabilities of 8,700 MW per annum.
Strong in-house R&D operations maintain Hansen's technological leadership and
the Company employs approximately 2,000 people worldwide.
http://www.hansentransmissions.com/en/
http://ir.hansentransmissions.com/
About Hansen Industrial Transmissions
HIT is a global industrial gearbox designer, manufacturer and supplier. The
company supplies for a wide range of industrial applications throughout the
world and has an established dedicated international service network. HIT
operates a manufacturing facility and services centre located in Flanders,
Belgium as well as assembly centres in Australia, Brazil, China, South Africa,
the UK and the US. HIT employs 730 people worldwide as at the end of 2010.
Merrill Lynch International ("Bank of America Merrill Lynch") has been engaged
to provide financial advice to the Board of Directors in relation to the
proposed disposal of the industrial gearbox division to Sumitomo Heavy
Industries. Bank of America Merrill Lynch is acting exclusively for Hansen and
no one else and will not be responsible to anyone other than Hansen for
providing the protections afforded to clients of Bank of America Merrill Lynch
or for providing advice in relation to the proposed transaction.
Forward Looking Statements
This press release may include statements that are "forward-looking statements".
In some cases, these forward-looking statements can be identified by the use of
forward-looking terminology, including the terms "believes", "estimates",
"forecasts", "plans", "prepares", "projects", "anticipates", "expects",
"intends", "may", "will", "should" or other similar words. Forward-looking
statements may include, without limitation, those regarding Hansen's financial
position, business strategy, plans and objectives of management for future
operations (including development plans and objectives relating to Hansen's
products) and the wind turbine and gearbox markets. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of Hansen, or
industry results, to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. Such forward looking statements are based on numerous assumptions
regarding Hansen's present and future business strategies and the environment in
which Hansen will operate in the future. These forward looking statements speak
only as of the date of this press release. Hansen expressly disclaims any
obligation or undertaking to release publicly any updates or revisions to any
forward-looking statement contained herein to reflect any change in Hansen's
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.
Neither the content of the Company's website nor the content of any other
website accessible from hyperlinks on the Company's website is incorporated
into, or forms part of, this announcement.
#
Press Release (PDF):
http://hugin.info/139494/R/1482838/418297.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Hansen Transmissions International NV via Thomson Reuters ONE
[HUG#1482838]
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