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[February 2001]
Degussa-Hüls/SKW merger now complete
The merger of Degussa-Hüls and SKW Trostberg took effect on Friday February 9, 2001, with the entry of the merger into the Dusseldorf register of companies. Directly after registration, the Degussa share was admitted for official listing at the Frankfurt stock exchange. It will be possible to trade the approx. 206 million Degussa shares there for the first time next Monday. The new shares bear the security identification number 542 190 and carry full dividend rights for the 2000 fiscal year.
For all shareholders of SKW Trostberg and for Degussa-Hüls shareholders with shares deposited at a credit institute, the exchange of shares will take place automatically. Shareholders of Degussa-Hüls who keep their shares according to other arrangements are requested to submit their old share certificates at a bank to have them exchanged. The exchange transaction is free of charge for all shareholders. The new Degussa share will be quoted on the DAX 30 index.
As Prof. Dr. Utz-Hellmuth Felcht, Management Board Chairman of Degussa AG comments, "We have been driving the merger process forward at full stretch and working intensively on the new structures ever since the starting signal sounded for the merger of Degussa-Hüls and SKW Trostberg in May 2000. As a result, the preparatory work for the integration has reached a stage that enables us to set to work today on all levels."
In the new Degussa, 21 business units gathered together into six divisions are responsible for operational business. Some 110 people are employed in the Dusseldorf Corporate Center, which concentrates on strategic functions.
At its first annual press conference on March 23, 2001 in Dusseldorf, the new Degussa will be able to present a joint Annual Report for the very successful year of 2000.
Degussa is an entirely newly-formed, globally active corporation consistently aligned to high-yield specialty chemistry. It is taking up business with sales of approx. EUR 14 billion, results before earnings tax of approx. EUR 680 million, and a workforce of some 63,000 employees (1999 pro forma figures, not including precious metal trading). Over the next few years, the new Degussa will successfully participate in shaping the consolidation process in international specialty chemicals from a position of strength.
Hannelore Gantzer
Phone: +49-211-65041-368
ENDS