DGAP-News: Elmos Semiconductor AG signs agreement to sell Silicon Microstructures Inc. to TE Connectivity Ltd.

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DGAP-News: Elmos Semiconductor AG / Key word(s): Disposal
Elmos Semiconductor AG signs agreement to sell Silicon Microstructures Inc. to TE Connectivity Ltd.

20.09.2019 / 21:03
The issuer is solely responsible for the content of this announcement.


Press release on today's ad hoc release

Dortmund, September 20, 2019: Elmos Semiconductor AG (FSE: ELG) signed an agreement today to sell Silicon Microstructures Inc. (SMI), Milpitas, California, to Measurement Specialties Inc., Berwyn, Pennsylvania, a subsidiary of TE Connectivity Ltd. (NYSE: TEL) (TE). Closing of the transaction is expected to take place this year and is subject to customary closing conditions.

Elmos acquired SMI in 2001. SMI has a market-leading offering in the automotive and industrial sectors that includes pressure offerings for transmission (auto) and HVAC (industrial) applications. Driven by innovations, especially with low pressure sensors for respiration devices and the award winning IntraSense(TM) product family SMI is expanding it's position in the medical sector as well.

"The IntraSense(TM) products have now reached a phase in which a financially strong partner with a broader market presence, such as TE, can implement economic success faster and put it on a strong footing," says Dr. Anton Mindl, CEO of Elmos Semiconductor AG.

SMI is represented in the micromechanics segment of the Elmos Group. After closing of the transaction, the micromechanics segment will be discontinued.

After closing of the transaction, Elmos will concentrate on the further development of its semiconductor core business with the business lines Sensors, Smart Control and Smart Solutions, whereby the focus will continue to be on the expansion of the market share with innovative, differentiating solutions, especially for the automotive sector.

Conference Call
On September 23, 2019 Elmos will hold a conference call (in English) for analysts and investors at 11.30 a.m. (CEST).

About Elmos Semiconductor AG
Elmos develops, produces and markets semiconductors and sensors, primarily for use in the automotive industry. Our components communicate, measure, regulate and control safety, comfort, powertrain and network functions. For over 30 years, Elmos innovations have been bringing new functions to life and making mobility worldwide safer, more comfortable and more energy efficient.

Notice
This release contains forward-looking statements that are based on assumptions and estimates made by the Elmos management. Even though we assume the underlying expectations of the forward-looking statements to be realistic, we cannot guarantee the expectations will prove right. The assumptions may carry risks and uncertainties, and as a result actual events may differ materially from the forward-looking statements. Among the factors that could cause such differences are changes in general economic and business conditions, fluctuations of exchange rates and interest rates, the introduction of competing products, lack of acceptance of new products, and changes in business strategy. Elmos neither intends nor assumes any obligation to update its statements with respect to future events.

Contact
Elmos Semiconductor AG
Dafne Sanac, Head of Investor Relations, Telephone: +49231‐7549‐7859
Mathias Kukla, Press Relations, Telephone: +49231-7549-199
Email: invest@elmos.com



20.09.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Elmos Semiconductor AG
Heinrich-Hertz-Str. 1
44227 Dortmund
Germany
Phone: +49 (0)231 7549-510
Fax: +49 (0)231 7549-111
E-mail: invest@elmos.com
Internet: http://www.elmos.com
ISIN: DE0005677108
WKN: 567710
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 877629

 
End of News DGAP News Service

877629  20.09.2019 

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