Tequity Takes Over Lemo

Published: August 08, 2003, By PRESS RELEASE

DÜSSELDORF, GERMANY—Jagenberg AG, Neuss, Germany, a subsidiary of Rheinmetall, reports it has sold its Lemo Maschinenbau GmbH, Niederkassel, Mondorf, business operations to Zürich-based Tequity Beteiligungsgesellschaft AG.

Lemo specializes in the production of plastic film welding machinery used in making carrier bags, sacks, and pouches, according to the co. It has a workforce of 200 and in 2003, generated sales of EUR 37.7 million. Tequity engages in financial investments and provides management support to SMEs, mainly in the automotive and mechanical engineering industries.

Both parties have agreed not to disclose contract terms and conditions. For more information, contact Rheinmetall's press and information party, Folke Heyer, at +49 (0) 211 473-4550 (phone); +49 (0) 211 473-4157 (fax).