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View as HTML version PSI Journal 8-9/2016 PARTNERSHIP WERA AND BITBURGER HOLDING Wera, the tool specialist from Wuppertal, has been successfully operating in the market for 80 years. By its own account, the company boasts continuous growth through its long-term orientation and focus on its own core competence. As a potential successor could not be identified, the current owner and the management sought a new owner for the long-established company. The goal: Continue to successfully develop Wera as an independent premium supplier in the tool industry. According to the company, the ideal partner was found: Bitburger Holding. The Simon family which stands behind the holding business had already committed itself in long-term partnerships with other companies. “We look forward to working with the long-established company Bitburger, a company steeped in tradition. Thankfully, our management was involved in the selection of this company from the outset,” says the long-standing Managing Director of Wera, Martin Bush, who welcomes the sealed partnership. The completion of the transaction is subject to approval by the cartel authorities. < 4TH CEE MANUFACTURING EXCELLENCE AWARDS LYNKA WINS TWO GOLD MEDALS The company Lynka has added two further awards to its long list of awards. At the 4th CEE Manufacturing Excellence Awards 2016 – hosted by CEO Manufacturing Magazine und – the Polish supplier and finisher of branded clothing and accessories won two gold medals in the categories “Sustainability and Environment” and “Textile Manufacturer of the Year”. The awards were presented in mid-June at the Warsaw InterContinental Hotel. A select group of high-ranking Central and Eastern European manufacturing professionals participated in the competition. The CEE Manufacturing Excellence Awards were attended by more than two hundred professionals from the manufacturing industry, including representatives of suppliers for and executives of manufacturing companies. CUSTOMERS NOT AFFECTED KORENVLIET BUYS MID OCEAN ORDINARY SHARES The HAV Group as a shareholder of Favorite Gifts with the Dutch promotional products suppliers Giving Europe and Van Helden Relatiegeschenken has sold all its ordinary shares in Mid Ocean Brands, The Netherlands, to the investment company Korenvliet. The background is as follows: After Rutger de Planque joined Mid Ocean Brands as CEO in September 2012, Korenvliet (an investment company of Rutger de Planque) and HAV (an investment company of Adrie van Helden, to which, inter alia, Giving Europe and Van Helden Relatiegeschenken belong) acquired all ordinary shares in Mid Ocean Brands from previous owners ABNAMRO Participaties and Avedon Capital Partners in June 2013. The company immediately achieved a remarkable turnaround with growth in the double digit percentage range at 40 per cent lower costs. During the past 12 months, the company has generated a turnover of 84.5 million euros to post a profit of 10.1 million euros. On 8 July 2016 Korenvliet (Rutger de Planque and Stephen Gibson) acquired all the ordinary shares in Mid Ocean Brands owned by HAV and is thus the sole shareholder. Giving Europe’s CEO Stef van der Velde considered the purchase of shares to be a positive sign in a good mutual partnership. Mid Ocean Brands’ CEO de Planque commented: “After a turbulent period, MidOcean Brands required clear objectives and a structured strategy on the right path towards an orderly and promising future. Now – three years later – the company is financially sound from a business perspective and ready to achieve accelerated growth on its own through a buy-and-build strategy. The market is changing rapidly and we will therefore continue to break new ground to expand the operating capabilities of Mid Ocean Brands in the future”. Nothing will change for the customers of Giving Europe and Mid Ocean Brands because the two companies will continue to operate independently. – < The chairman of the CEE Awards, Craig Smith, with Lynka managing directors Preston Smith and John Lynch (left to right). 53

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