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WAFIOS AG has increased their share in the company Ernst Koch GmbH & Co. KG
in Ihmert, Germany, from 30 % to 42 % in order to tighten its group
structure even more.
Thereby the capital of KOCH was increased by 500.000 € 300.000 € came from
the conversion of shareholder loans into reserves and 200.000 € more by
adding new funds.
KOCH employs 120 people and had an annual turnover of 28 mill. € in 2003.
The employment situation is good. For 2004 a sales increase of 10 % is
planned.
Despite the difficult situation in the steel sector, the company is
confident of closing the business year well.
Furthermore, WAFIOS AG reports to have acquired the minority shares of 49%
in GSG GmbH, Schwerte, Germany, which were formerly owned by KOCH. Thus
WAFIOS is the exclusive shareholder of this company. Selling these shares
strengthens the financial situation at Koch.
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