Krones AG / Key word(s): Legal Matter

26.01.2012 15:17

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - adhoc company of EquityStory AG. The issuer is solely responsible for the content of this announcement.

Ad hoc press release

Krones in mediation with American finance companies

Neutraubling, 26 January 2012 - The US company of the Krones Group, Krones Inc., Franklin/Wisconsin (USA), and Krones AG, Neutraubling (Germany) have taken a first step towards resolving the legal disputes that have been ongoing since October 2008, triggered by claims for damages by several American financial service providers, a group of hedge funds and a liquidation trustee.

The lawsuits are related to the financial scandal involving the bankruptcy of the US company Le-Nature's, whose former directors have meanwhile been convicted of fraud. In 2005/2006, Krones produced, delivered and successfully commissioned filling lines representing a contract volume of approximately 100 million US-dollars for the Le-Nature's facility in Phoenix/Arizona (USA).

Several plaintiffs have entered into a mediation process with Krones, to explore options for ending the proceedings. Although in Krones' view the opposing parties' demands are unfounded, Krones' US attorneys have advised to continue mediation, also with regard to the special risks entailed by the American legal system.

Initial assessments from the mediation process indicate that the possibility cannot be ruled out that potential settlements developing from the mediation could have an adverse effect on the Krones Group's profit situation, quantified as a low-to-medium double-figure million US-dollar amount.

Your contact person: Olaf Scholz Senior Vice President Investor Relations Krones AG Tel.: +49 9401-70 1169 Email: olaf.scholz@krones.com

26.01.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de



Language: English
Company: Krones AG
Böhmerwaldstraße 5
93073 Neutraubling
Germany
Phone: +49 (0)9401 701169
Fax: +49 (0)9401 709 1 1169
E-mail: investor-relations@krones.com
Internet: www.krones.com
ISIN: DE0006335003
WKN: 633500
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart

End of Announcement DGAP News-Service