DJ DGAP-Adhoc: Turbon AG: Termination of the supply relationship with Staples/Corporate Express in the USA
DJ DGAP-Adhoc: Turbon AG: Termination of the supply relationship with Staples/Corporate Express in the USA
Turbon AG / Development of Sales 17.01.2009 Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. =-------------------------------------------------------------------------- In the course of Staples recent takeover of Corporate Express, we had negotiations with Staples regarding the continuation of our Supply Agreement relationship. The business with Corporate Express, executed by our USA subsidiary, was the largest single turnover piece of the Turbon Group in 2008, totalling US Dollar 38.8 million. The negotiations failed, so that the turnover with Corporate Express (respectively Staples), will be significantly lower in 2009. Based on our existing agreement, we are planning for 2009 with US Dollar 17.5 million from the Corporate Express business and expect the full lapse for 2010. Our flexible company structure permits a fast adjustment of capacities and costs. This, combined with the many cost savings measures from 2008, which have started to pay, make us confident that our earnings figures in 2009, despite this setback, will at least be at a similar level as 2008. Hattingen, January 17, 2009 Turbon AG 17.01.2009 Financial News transmitted by DGAP =-------------------------------------------------------------------------- Language: English Issuer: Turbon AG Ruhrdeich 10 45525 Hattingen Deutschland Phone: +49 (0)2324 - 504-0 Fax: +49 (0)2324 - 504-156 E-mail: [email protected] Internet: www.turbon.de ISIN: DE0007504508 WKN: 750450 Listed: Regulierter Markt in Frankfurt (General Standard), Düsseldorf; Freiverkehr in Berlin, Hamburg, München, Stuttgart End of News DGAP News-Service =--------------------------------------------------------------------------
(END) Dow Jones Newswires
January 17, 2009 02:50 ET (07:50 GMT)
