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JENOPTIK Group being reorganized

  • JENOPTIK Group to concentrate on two business divisions.
  • The subsidiary Krone AG has been sold to the American GenTek group.
  • Semiconductor JENOPTIK Infab GmbH is being incorporated into the American equipment manufacturer Brooks Automation, Inc.
  • JENOPTIK subsidiary Automatisierungstechnik GmbH has been reorganized and will be incorporated into JENOPTIK Laser, Optik, Systeme GmbH in the medium term.
  • Asset Management subsidiary Deutsche Effecten- und Wechselbeteiligungsgesellschaft AG (DEWB) to be opened up to the capital market.

The technology group JENOPTIK AG will in future concentrate on the two industrial business divisions Clean Systems Technologies and Photonics Technologies. As the Chairman of the Board of Management of JENOPTIK AG, Dr. h.c. Lothar Späth, announced to journalists on Tuesday in Jena, JENOPTIK AG has sold the management company of the Telecommunications business division, Krone AG in Berlin, to the US American group GenTek Inc., Hampton/New Hampshire, with retrospective effect from the 1. July 1999. At the same time, the group subsidiary JENOPTIK Infab GmbH, part of the Clean Systems Technologies business division, will be incorporated into the US semiconductor equipment manufacturer Brooks Automation Inc., Chelmsford/Massachusetts. The group subsidiary Automatisierungstechnik GmbH in Photonics has also been restructured.

Lothar Späth had already announced at the company's balance sheet press conference in April as well as at the Annual General Meeting of Shareholders at the end of May in Erfurt, that all divisions of business failing to meet the criteria of the JENOPTIK Group in terms of earnings power and return on capital, are under review and co-operation arrangements will be concluded where the Group is not strong enough in the market on its own.

JENOPTIK AG also intends to open up the quoted asset management subsidiary Deutsche Effecten- und Wechselbeteiligungsgesellschaft AG (DEWB) to strategic partners and the capital market. By disposing of shares currently held by Jenoptik and increasing the capital stock, the aim is to achieve a broad distribution of the DEWB shares and to realize the concept of a venture capital company on a broad basis in conjunction with finance partners.

Concentration on two core divisions with high growth rates.

Späth stated that the concentration on the two streamlined business divisions, Clean Systems and Photonics, promised well for the future since both divisions are well positioned in attractive growth markets. The Clean Systems business division has already carved out a good market position for itself in the electronics industry, as a global player. The aim is to now achieve this same market position in the growth markets of pharmaceuticals, foods and biotechnology. "We are already seeing the first signs of success." The Photonics Division has established itself as a technology and innovation leader in niche markets. This potential should be utilized for growth in selected high-tech markets with future potential.

With the clear solutions which have now been implemented Späth concluded by stating that "we can successfully develop the Group further". He is confident that the shareholders would also recognize that the Management has done its "homework quickly and successfully".

More detailed information will be given today (Tuesday, July 13) on a press conference in Jena (10 a.m. German time).

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