Schaltbau Group expanding in the USA

Munich/Kassel, 19 March 2010 – The Bode Group is strengthening its presence on the growing North American market for door systems by repurchasing Bode Corporation, which is based in Spartanburg, South Carolina, USA, and thus resolutely pursuing the Schaltbau Group's declared long-term strategy of expansion. In global business activities with train doors and increasingly with bus doors, the international orientation of suppliers is continually gaining in significance. The only way to flexibly fulfil the requirements of customers and simultaneously heed the call for so-called local content is to invest locally. With the reacquisition of Bode Corporation, the Schaltbau Group can now benefit from working within familiar, existing structures in order to successfully tap the key potential the North American market has to offer.

Bode Corporation recorded sales revenue of approximately US$2 million in 2009 and most recently employed a workforce of 18 people. The acquisition took economic effect as of 1 January 2010. The parties agreed not to disclose the purchase price. Gebr. Bode GmbH & Co. KG, of Kassel, Germany, a wholly owned subsidiary of Schaltbau Holding AG, repurchased its 67% share in Bode Corporation, USA via its subsidiary Gebr. Bode & Co. Beteiligungs-GmbH and thus takes over industrial leadership of the company with immediate effect.

Contact

Schaltbau Holding AG

Hollerithstraße 5
D-81829 München

Wolfdieter Bloch
Public Relations

Phone +49 (0)89/93005-209
Fax +49 (0)89/93005-318
bloch@schaltbau.de