INDUS Holding AG New Principal Shareholder of eltherm GmbH Burbach

On 11 June INDUS Holding AG, of Bergisch Gladbach, Germany officially announces acquisition of the electrical heat tracing experts located in Burbach, Germany. The takeover is effective retroactive to January 01, 2013, and ensures a solid transition for the successful, medium- sized business. Herbert Breit, the former founder and majority shareholder made the announcement with Jürgen Abromeit, Chairman of the board of management of INDUS Holding AG and new owner of eltherm, during the company’s general meeting held in Burbach on 11 June 2013. Herbert Breit, who handed over the day-to-day operations a few years ago to the management team lead by Frank von der Heyden, Alexander Neff and Michael Thomas, has been busy planning for a successful and smooth transition for quite some time. He describes the current decision as follows: „We have opted to sell to INDUS because we wanted to partner with an investor with a long-term horizon and sufficient financial flexibility to support our company’s continued growth and, moreover, which offers all benefits of belonging to a strong group.“ Most important for the organization is that the main manufacturing location and company headquarters will remain in Burbach, ensuring continuity and secure employment of the current eltherm staff with INDUS. The trading name and management structure of eltherm GmbH and the subsidiary companies are not altered by the change of shareholder. In addition, eltherm and INDUS remain committed to the current and future international expansion plans, with continued operations and potential expansion of subsidiaries located in Canada, the United Kingdom, Singapore and China. The eltherm management views the company development as follows: „We have been on a rapid expansion course for many years, and with the addition of INDUS as a strong partner we believe that we can continue our successful growth and enhance our market position even further’. The current management team, which has been successfully leading the operation for several years, will continue to lead the organization after the takeover of INDUS is complete – as well as the local international management teams in Asia, Canada and the United Kingdom, who are all on long-term contracts. The transfer of control is to take retroactive effect from 1 January 2013 and is subject to cartel office approval. The management team and employees in Burbach are highly motivated and are looking forward to the continued success of the organization for the future. For additional information, please contact: eltherm GmbH Derya Turgay-Herz Ernst-Heinkel-Str. 6 – 10 57299 Burbach Tel +49 (0) 27 36 - 44 13-59 Fax +49 (0) 27 36 - 44 13-91 dturgayherz@eltherm.com