SCHOTT seeks majority in MORITEX Corporation, a listed Japanese company

Moritex board supports the transaction / Extensive business alliance agreed / creation of leading global force in imaging and lighting solutions SCHOTT, the technology group based in Mainz, Germany, has issued a tender offer bid (“TOB”) to acquire a majority in Moritex Corporation, a company based in Tokyo listed on the 1st section of the Tokyo Stock Exchange (TSE).

With some 450 employees and sales of approximately 100 million euros (fiscal year 2007/08), Moritex is a leader in the field of lighting systems based on LED and fiber optic technology, as well as optical imaging systems for industrial image processing (so-called “machine vision systems”) in Japan.

SCHOTT is the world’s largest manufacturer of fiber optic light and image guides. Its business unit “Fiber Optics” employs a staff of approx. 730 at manufacturing sites in the United States, Mexico, the Czech Republic and Germany, and its sales office in Tokyo. Its customized high-tech solutions based on fiber optic and LED technologies focus on the automotive, lighting, medical, industrial and architectural markets.

Due to the increasingly competitive situation in the optical image and lighting systems market and the ongoing substitution of fiber optic systems by LED-based solutions, SCHOTT and Moritex decided to strengthen their capabilities by establishing a powerful alliance. SCHOTT aims to acquire a majority in Moritex (more than 50%). Moritex has already consented in advance to both a majority shareholding and the business alliance. “Our objective is to increase our ability to compete internationally, leverage synergies and enable stable growth for both parties,” explains Dr. Jürgen Dahmer, member of the Board of Management at SCHOTT.

The technology platforms at Moritex and SCHOTT complement each other in an ideal manner in strengthening the respective position of the other partner. Moritex, for example, has technological expertise that is of interest for the markets that SCHOTT addresses, including medical technology and the aviation and automotive industry. SCHOTT, on the other hand, provides outstanding technology in hot forming, fiber drawing and automated manufacturing processes. At the same time, the capital tie-up and business alliance enable both companies – SCHOTT with its strong presence in Europe and the United States and Moritex with its strong presence in Asia – to improve access to markets of strategic importance.

“Joining together would result in what can be viewed as a ‘win-win’ situation for both companies. We are seeking to become a global leader in imaging and lighting solutions,” says Shuitsu Nishina, President and CEO of Moritex.

SCHOTT and Moritex both signed a letter of intent on a strategic cooperation back in June 2007 and have been working together successfully in the areas of sales, purchasing and research and development since then. The respective management teams at both SCHOTT and Moritex are convinced that cooperating even more closely and realizing common goals can best be achieved by establishing a stable majority shareholding. The tender offer period will most likely last until October 23, 2008, and the success of the TOB is subject to a minimum acceptance rate of 33%.

SCHOTT has been present in Japan for over 40 years with its subsidiary SCHOTT Nippon K.K. SCHOTT generates 10% of its sales in Japan. In 2000, the company also formed a successful joint venture with NEC in Japan, NEC SCHOTT Components Corporation, that manufactures electronic packaging components.

SCHOTT is an international technology group that sees its core purpose as the lasting improvement of living and working conditions. To this end, the company has been developing special materials, components and systems for nearly 125 years. The main areas of focus are the household appliances industry, pharmaceuticals, solar energy, electronics, optics and the automotive industry. The SCHOTT Group is present in close proximity to its customers with production and sales companies in all its major markets. The Group’s approximately 16,700 employees generate worldwide sales of approximately 2.1 billion euros. The company's technological and economic expertise is closely linked with its social and ecological responsibility. The parent company of the SCHOTT Group is SCHOTT AG, whose sole shareholder is the Carl-Zeiss-Stiftung (Foundation).

600450 SCHOTT seeks majority in MORITEX Corporation, a listed Japanese company

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