Airopack Technology Group takes action to end joint venture with Resilux Dienstag, 29. März 2016 - 09:00

Airopack Technology Group AG / Key word(s): Miscellaneous
Airopack Technology Group takes action to end joint venture with Resilux

29.03.2016 / 08:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.

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Airopack Technology Group takes action to end joint venture with Resilux

  - ATG, through its new strategic partnership, remains committed to
    unlocking the growth potential of Airopack through further investments

  - Further steps in procedure to end joint venture with Resilux

  - Ending the Airolux joint venture will allow ATG to reach its next level
    of growth by increasing production and enhancing its organizational
    footprint

  - ATG looks forward to expanding the use of its revolutionary and
    worldwide patented Airopack technology to serve leading fast-moving
    consumer goods companies

Baar, 29th March 2016 - Airopack Technology Group AG ("ATG") today
announces that it has taken further steps to terminate its Airolux AG
("Airolux") joint venture with Resilux NV ("Resilux") and regain the
exclusive use of ATG's Airopack technology. These steps are necessary since
parties did not reach an agreement following the issuance of a Deadlock
Notice as announced on 7th January 2016. ATG is the inventor and exclusive
owner of the globally patented Airopack technology, which offers a
revolutionary all-plastic pressurized dispenser used by leading global
brands.

ATG will terminate its joint venture with Resilux in order to unlock the
unique growth potential of innovative Airopack technology. Under the terms
of the joint venture agreement, ATG has offered to acquire Resilux's 50%
stake in Airolux for a cash consideration of EUR18.9 million. Resilux's
outstanding shareholder loans and financial debts to Airolux of around
EUR37million will have to be repaid as required by the relevant agreements.
Resilux will not be entitled to any long-term supply agreement with ATG for
PET preforms and container parts, which ATG would look to source from
alternative suppliers at market competitive rates.

Resilux has until 25th April 2016 to either unconditionally commit to
selling its shares in Airolux to ATG, or to acquire ATG's shares in Airolux
under the same terms as proposed by ATG. In the event that Resilux would
opt to acquire ATG's shares in Airolux, a 100% Resilux-owned Airolux would
not have access to ATG's patented Airopack technology. ATG has terminated
the license agreement with Airolux and would independently commercialize
the product to continue meeting robust customer demand.

ATG currently has 158 global patents and serves some of the world's largest
fast-moving consumer goods companies. Termination of the joint venture will
allow ATG to reach the next level of growth by expanding production of its
technology, improving time to market, reducing costs, and enhancing its
organizational footprint. In conjunction, ATG has developed a new website
(www.airopack.com) to showcase its unique patented technology and meet
strongly increased customer inquiries.

ATG remains committed to the process with its new strategic partner, funds
managed by affiliates of Apollo Global Management, LLC (NYSE:APO) (together
with its consolidated subsidiaries, "Apollo"), and its legal and financial
advisors.

Further announcements will be made if and when appropriate.

About Airopack Technology Group (ATG)

Airopack Technology Group AG is a leading developer and supplier of
mechanical and pressure-controlled dispensing packaging technologies and
systems for manufacturers and suppliers of cosmetics, body care,
pharmaceutical and food products. The revolutionary and worldwide and
solely by ATG patented Airopack(R) technology offers a safe, all-plastic
pressurized dispenser that is environmentally and planet friendly

Airopack Technology Group operates under 100% own control a Full-Service
Filling operation in Heist op ten Berg Belgium, an Global Research and
Development Team and the Airopack Global Management and Customer Service
Organisation in Waalwijk, The Netherlands .

Airopack Technology Group operates a Airopack Ready to Fill manufacturing
facility in Glarus Nord, Switzerland with Resilux Schweiz AG. Airopack
Technology Group plans to start and operate two new Airopack Ready to Fill
Manufacturing sites, being in North America and on a second location in
Europe, in the course of 2016. With deliveries to the world's largest and
leading consumer brands, Airopack Technology Group reached a key milestone
in 2015 with respect to commercial market entry.

For more information:
Investors:       Media:
Airopack Technology Group AG     Hill + Knowlton Strategies
Quint Kelders, CEO / Frans van der Vorst, CFO   Frans van der Grint
Zugerstrasse 76b      T: +31 (0) 20 404 4707 / M: + 31 (0) 6 29044053
CH-6340 Baar       E-Mail: frans.vandergrint@hkstrategies.com
TF: +31 416 300 800
E-Mail: quint.kelders@airopackgroup.com 
frans.vandervorst@airopackgroup.com
www.airopackgroup.com

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The shares of the company are listed on the Swiss Reporting Standard of the
SIX Swiss Exchange since 2010. (Ticker: AIRN / ISIN: CH0242606942).

www.airopackgroup.com



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