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IABG with New Shareholding Structure

Ottobrunn – The technical and scientific services provider IABG (Industrieanlagen-Betriebsgesellschaft mbH) in Ottobrunn near Munich is again going to be entirely under German ownership. The company will be taken over to 01. January 2003 as part of a Management Buyout by the Chairman of the Management Board of IABG, Prof. Rudolf Schwarz, and a former partner in Roland Berger Strategy Consultants and IABG consultant, Thomas Dittler. Schwarz und Dittler will jointly manage the fortunes of the company. "We wish to secure the unity and independence of the company on a permanent basis with our long-tem commitment" is their predominant interest.

On 24. October 2002, the purchase contract was signed with the majority shareholders to date, TRW Inc. and IVG Immobilien AG. The Federal Ministry of Defence had previously given its approval to the sale; security policy interests of the Federal Republic of Germany would not be impaired by the sale. The last advisory body reservations must still be fulfilled. S&D Industriebeteiligungen GmbH, jointly owned with equal holdings by Schwarz and Dittler, will in future hold 87.39 percent of the company. IABG Mitarbeiterbeteiligungs AG (MBAG) holds the remaining 12.61 percent in IABG. S&D Industriebeteiligungen GmbH was exclusively advised by Landesbank Kiel Hamburg Corporate Finance GmbH as Financial Advisor for this transaction.

We are optimistic of being able to continue to improve the revenue situation and the competitiveness of the company was the statement of the Joint Managing Directors.

In particular, measures to strengthen the marketing and customer relations should contribute to being able to secure in the long-term the almost 1 000 jobs at IABG and to expand successively. Technical safety and use optimization are today written everywhere in capital letters and the demand for our services is stable,“ Prof. Schwarz explained. “IABG with its highly qualified staff is already a player with a high reputation, however our markets offer greater potential.“ Employees and Management Board want to use these opportunities.