Bremer Woll-Kämmerei AG
Bremer Woll-Kämmerei AG:Recent Developments at BWK AG
Ad hoc announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Bremer Wollkämmerei AG is working to continually improve the competitiveness
of the Group.
As such, the Bremer Woll-Kämmerei AG signed through its 100% subsidiary
company, BWK Australia Pty. Ltd., Parkes, Australia a joint venture contract
with the Longkou Kaisheng Textile Company Ltd. from Shandong province in China
in order to access the Chinese market for the Group.
The Longkou Kaisheng Textile Company Ltd. is part of the Nanshan Corporation
which is a stock exchange listed group of companies that specialises in
textiles, aluminium products, wine-growing and in recreational facilities. As
a vertical textile company, it currently operates a small wool combing plant.
The objective of this joint venture is to run the combing plant with the
machines from the former Geelong Wool Combing, Australia. This gives BWK the
opportunity to continue using the Geelong Wool Combing machines without having
to invest in land and buildings. The plant will start operations in the 1st
quarter 2007.
As a consequence of strong Asian competition management must further downsize
the capacity of the combing plant in Bremen and concentrate even more on niche
markets. This also requires adjustments in the personnel numbers. A socially
acceptable solution has been found for 70 retiring employees by signing a
social plan on 19th December 2005.
For further information please contact Mr Günther Beier 0421 / 60 91-304 or Mr
Thomas Bolte Tel: 0421/60 91-205.
The Board of Management of Bremer Wollkämmerei AG:
Günther Beier, Chairman
Trevor Thiele
BREMER WOLLKÄMMEREI AG
ISIN: DE000A0BVXQ0
P. O. Box 71 01 80
D-28761 Bremen
Tel.:0421/60 91-0
Fax.:0421/60 91-600
e-mail:info@bwk-bremen.de
Internet:http://www.bwk-bremen.de
Bremer Woll-Kämmerei AG
Landrat-Christians-Straße 95
28779 Bremen
Deutschland
ISIN: DE000A0BVXQ0
WKN: A0BVXQ
Listed: Geregelter Markt in Berlin-Bremen; Open Market in Frankfurt;
Freiverkehr in München
End of ad hoc announcement (c)DGAP 22.12.2005
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