Sauer-Danfoss Inc. Applies for Delisting From Frankfurt Stock Exchange; Will Remain Listed on New York Stock Exchange
September 19 2005 - 5:30PM
PR Newswire (US)
CHICAGO, Sept. 19 /PRNewswire-FirstCall/ -- Sauer-Danfoss Inc.,
listed on the NYSE and Frankfurt's prime standard exchange (NYSE:
SHS; FSE: SAR), today announced that it is seeking approval from
the Frankfurt Stock Exchange to delist its shares while maintaining
its primary listing in New York. The company's analysis of its
share trading volumes at the exchanges in New York and Germany has
indicated that the large majority of its share trades are being
handled at the New York Stock Exchange. Based on this analysis and
the considerable higher expenses of maintaining a dual listing,
Sauer-Danfoss has concluded that the costs of the German listing
considerably outweigh the benefits of maintaining an additional
point of access to the capital markets. These costs also pertain to
the increasing amount of effort necessary to maintain compliance
with the different requirements of US and German regulations. An
application to delist will be presented to the Deutsche Borse AG
shortly. Upon approval, final delisting is expected around the end
of the calendar year 2005. The Company remains firmly committed to
its European shareholders and will continue to hold meetings with
investors in Frankfurt and London on an annual basis. European
investors will continue to be supported by the Investor Relations
contact in Neumunster, Germany. Sauer-Danfoss Inc. is a worldwide
leader in the design, manufacture, and sale of engineered hydraulic
and electronic systems and components, for use primarily in
applications of mobile equipment. Sauer-Danfoss, with approximately
8,500 employees worldwide and revenue of more than $1.5 billion,
has sales, manufacturing, and engineering capabilities in Europe,
the Americas, and the Asia-Pacific region. The Company's executive
offices are located near Chicago in Lincolnshire, Illinois. More
details online at http://www.sauer-danfoss.com/. DATASOURCE:
Sauer-Danfoss Inc. CONTACT: Sauer-Danfoss Inc. - Investor
Relations: Kenneth D. McCuskey, Vice President and Chief Accounting
Officer, 2800 East 13th Street, Ames, Iowa, USA, 50010,
+1-515-239-6364, Fax: +1-515-239-6443, , or John N. Langrick,
Director of Finance Europe, Krokamp 35, D-24539 Neumunster,
+49-4321-871-190, Fax: +49-4321-871-121, Web site:
http://www.sauer-danfoss.com/
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