Siempelkamp takes minority holding in struggling Pallmann Group

Siempelkamp has taken a qualified minority holding in Pallmann and in that company’s general partner Ludwig Pallmann. With that qualified minority holding, which is a special form of minority holding, Siempelkamp acquires co-determination and veto rights at both Pallmann companies. According to unconfirmed information, the holding amounts to 25.1%. Siempelkamp and the managing partner of Pallmann, Hartmut Pallmann, reached agreement on 22 March 2012 on participation by Siempelkamp in the Pallmann Group, which is primarily oriented to front-end plant. According to Siempelkamp, details of the holding will be contractually fixed during the course of the next few weeks.