Brief: SGL Carbon Evaluates Divestment Of Carbon Fiber Business Unit

SGL Carbon SE

23/02/2024 17:23

Feb 23 (Reuters) - SGL CARBON SE  SGCG.DE :
    * EVALUATES STRATEGIC OPTIONS FOR THE BUSINESS UNIT CARBON
FIBERS
    * DECIDED TODAY TO EVALUATE VARIOUS STRATEGIC OPTIONS FOR
SECOND
LARGEST BUSINESS UNIT CARBON FIBERS (CF)
    * THESE ALSO INCLUDE A POSSIBLE PARTIAL OR COMPLETE
DIVESTMENT OF
BUSINESS UNIT
    * IN A FIRST STEP, POTENTIAL INTERESTED PARTIES SHALL BE
APPROACHED PROMPTLY WITH BUSINESS UNIT'S GENERAL DATA AND TO
DETERMINE THEIR BASIC INTEREST IN AN ACQUISITION
    * IF SUFFICIENT INTEREST IS EXPRESSED, A STRUCTURED
TRANSACTION
PROCESS IS TO BE CARRIED OUT IN A SECOND STEP
    * DUE TO EARLY STAGE OF PROCESS, IT IS CURRENTLY NOT
POSSIBLE TO
PROVIDE ANY CONCRETE INFORMATION ON TIMEFRAME FOR A POSSIBLE
TRANSACTION
    * EVEN IF DEMAND PICKS UP, COMPANY ASSUMES THAT CARBON
FIBERS
NEEDS ADDITIONAL RESOURCES TO REMAIN COMPETITIVE IN
INTERNATIONAL MARKET
    * FOLLOWING TEMPORARY DROP IN DEMAND FOR CARBON FIBERS FOR
WIND
INDUSTRY, BUSINESS UNIT'S SALES AND EARNINGS FELL SIGNIFICANTLY
IN COURSE OF 2023 FINANCIAL YEAR
    * BASED ON PRELIMINARY FIGURES, SGL CARBON EXPECTS SALES OF
AROUND
EUR 225 MILLION FOR CARBON FIBERS IN FISCAL YEAR 2023 (2022: EUR
347.2 MILLION)
    * AGAINST THIS BACKGROUND, SGL CARBON IS EVALUATING ALL
POSSIBILITIES TO SUPPORT A POSITIVE FURTHER DEVELOPMENT OF
BUSINESS UNIT CARBON FIBERS, ALSO OUTSIDE SGL CARBON GROUP

Source text for Eikon:  ID:nEQ9qvdwsa 
Further company coverage:  SGCG.DE 

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