DGAP-Adhoc: Schaltbau Holding AG: Schaltbau and Bombardier Transportation agree to continue PSD project in Brazil on modified basis

2018. július 18., szerda, 16:20





DGAP-Ad-hoc: Schaltbau Holding AG / Key word(s): Agreement/Investment


Schaltbau Holding AG: Schaltbau and Bombardier Transportation agree to continue PSD project in Brazil on modified basis


18-Jul-2018 / 16:20 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




Munich, Germany, 18 July 2018. Pintsch Bamag Antriebs- und Verkehrstechnik GmbH ("Schaltbau Pintsch Bamag") - part of the Schaltbau Group (Schaltbau Holding AG, WKN: 717030, ISIN: DE0007170300) - and Bombardier Transportation have agreed on the modified continuation of the platform screen doors (PSD) project commenced in 2012 in Brazil with Companhia Do Metropolitano de São Paulo ("São Paulo Metro"). Both parties signed a corresponding memorandum of understanding. The agreement is still subject to final contractual documentation.



Previously, Schaltbau Pintsch Bamag itself had been responsible for installing the new platform screen doors in São Paulo Metro stations. In future, this work will be performed by another party to be commissioned by Bombardier Transportation. Schaltbau Pinsch Bamag will initially provide the materials and technical support required for installations at a reduced number of stations. The contractual terms and conditions for this work are also being modified.



The new arrangements significantly reduce the scale of project risks to which Schaltbau Pintsch Bamag is exposed. As a result of the reduced project scope and changes to contractual terms and conditions, the level of provisions for onerous contracts and write-downs on materials recognised in the Schaltbau Group balance sheet will need to be revised. These adjustments are expected to have a nearly double-digit million positive impact on earnings.


Contact:

Wolfgang Güssgen

Head of Investor Relations & Corporate Communications

Schaltbau Holding AG

Hollerithstrasse 5

81829 Munich

Germany

P +49 89 93005-209
guessgen@schaltbau.de








18-Jul-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: Schaltbau Holding AG

Hollerithstraße 5

81829 Munich

Germany
Phone: +49 89 - 93005 - 209
Fax: +49 89 - 93005 - 318
E-mail: guessgen@schaltbau.de
Internet: www.schaltbau.de
ISIN: DE0007170300
WKN: 717030
Indices: Prime Standard
Listed: Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange





 
End of Announcement DGAP News Service




705923  18-Jul-2018 CET/CEST







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