Pankl Racing Systems Aerospace Division to Co-operate with Admiralty Partners; US-Investor to Acquire a 25% Equity Stake in the Aerospace Division.BRUCK UPON MUR Mur (m  r), Hung., Slovenian, and Croatian Mura (m `rä), river, c. , Austria -- The management board of Pankl Racing
Systems AG announces today the completion of a comprehensive
co-operation agreement with the US private equity company Admiralty
Partners, Inc. This agreement includes Admiralty Partners'
acquisition of a 25% equity stake in the aerospace division. The
transaction is subject to a number of pre-closing conditions which both
partners expect to be satisfied by the end of 2006Q3.
The co-operation agreement relates to the Cerritos, California Cerritos is a city in Los Angeles County, California, United States, and is one of several cities that constitute the Gateway Cities of southeast Los Angeles County. It was incorporated on April 24, 1956. (USA) and the Kapfenberg (Austria) production facilities. This Pankl division is a leading provider of range of products for aerospace and defense markets including helicopter main and rear rotor drive shafts; in-air refuelling re·fu·el v. re·fu·eled also re·fu·elled, re·fu·el·ing also re·fu·el·ling, re·fu·els also re·fu·els v.tr. To supply again with fuel. v.intr. system components and jet engine shafts. This co-operation should secure Pankl an experienced partner for its aerospace business. Admiralty Partners is a dedicated specialist with intimate knowledge of the global aerospace and defense industry. Admiralty Partners' market access together with Pankl's technical capabilities should enhance growth and profitability of the division. About Admiralty Partners: Admiralty Partners, Inc. is a Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , Calif. based private investment firm focused exclusively on acquiring companies in the global aerospace, defense and federal information technology industries. Its Chief Executive Officer, Jon B. Kutler, previously founded Quarterdeck (Quarterdeck Corporation, Marina del Rey, CA) A pioneering software company, founded in 1983, that offered a variety of utilities, diagnostics, connectivity and Internet products for the PC and Macintosh. Investment Partners, a leading merger & acquisition advisory firm in these sectors, and subsequently sold it to Jefferies & Company, Inc. (NYSE NYSE See: New York Stock Exchange : JEF JEF Jefferies Group, Inc. (stock symbol) JEF Junge Europäische Föderalisten (German: Young European Federalists) JEF Joint Educational Facilities, Inc. ). For more information visit http://www.admiraltypartners.com.
For further information:
Investor Relations & Corporate Communications
Tel.: +43 3862 33 999 113
e-mail: ir@pankl.co.at
Internet: www.pankl.com
Language: English
Issuer: Pankl Racing Systems AG
Industriestrabe West 4
8605 Kapfenberg Osterreich
Phone: +43 3862 33 999 -114
Fax: +43 3862 33 999 -181
email: ir@pankl.co.at
WWW: www.pankl.co.at
ISIN: AT0000800800
WKN: 914732
indices:
Listed: Geregelter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin-Bremen, Hannover, Dusseldorf,
Hamburg, Munchen, Stuttgart
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