ARQUES Industries AG sells British automotive glass specialist

ARQUES Industries AG has sold the British automotive glass specialist, Auto Windscreens, within the context of a secondary transaction to a German-English family office. ARQUES had acquired Auto Windscreens in December 2008 for a symbolic purchase price. In total ARQUES booked net proceeds to the value of more than 10 million EUR from its involvement in Auto Windscreens, which is to be utilised for the scheduled repayment of financial liabilities and the strengthening of the investment portfolio.

The British automotive glass specialist, Auto Windscreens, generated revenues to the value of approximately 125 million EUR in 2008. After the acquisition, ARQUES established independent medium-size structures within the company and introduced strict cost management. Simultaneously Auto Windscreens was established as an independent brand and the sales approach intensified. Hereby the initial restructuring phase could be concluded at an early stage enabling a successful secondary transaction. The buyer will continue the reorganisation of the company in co-operation with the existing management which will retain its equity interests in the company.

´After the successful sale of the British School of Motoring a few weeks ago, we have again succeeded in selling a further company, which we have recently acquired, with a nameable cash inflow. We will utilise the sales proceeds for the scheduled reduction of financial liabilities as well as to strengthen and develop our investment portfolio´, said Hans Gisbert Ulmke, chairman of the ARQUES Industries AG executive board.

In the context of the consolidation of the portfolio of subsidiaries ARQUES has sold 12 companies in 2009 and acquired one company. Thus ARQUES limited the Group´s risks significantly. Financial liabilities have been reduced from EUR 212.0 million to EUR 94.5 million since December 31, 2008. After the consolidation of the portfolio has been completed, ARQUES will concentrate more heavily on growth in 2010.

About ARQUES ARQUES Industries AG, Munich, (www.arques.de) is a business partner of conglomerates regarding company spin-offs and a turnaround specialist who focuses on the acquisition and the active restructuring of companies in transitional situations, in order to develop these, with its own Team and own resources, to competitive enterprises with a positive yield. ARQUES revitalizes its subsidiaries´ potential for creating value for the benefit of all its stakeholders, taking on the relevant social responsibility. The shares of ARQUES Industries AG are traded on the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the symbol ´AQU´ and are listed in the SDAX