ARQUES Takes Over Consumer Electronics Company

2007-11-30 Manufacturing News

ARQUES Industries AG to acquire all shares in the consumer electronics company SM Electronic from Thomson Group.

ARQUES Industries AG has taken over all shares in the consumer electronics company, SM Electronic, based in Stapelfeld near Hamburg. The seller is Thomson Group (Boulogne-Billancourt near Paris), the leader in video technology which intends to concentrate on its core business. With its trademark „Skymaster“, SM Electronic has been active in the reception technology segment (satellite receivers and satellite mirrors) for more than 25 years and generated revenues to the value of EUR 60 million (2006) with approximately 200 employees. The takeover is subject to the usual approval by the relevant authorities. ARQUES expects the conclusion of the takeover by the end of the year.

Under the brand name "Skymaster", SM Electronic offers satellite and antenna receivers (digital TV) as well as accessories for electronics, among others, audio, video, home cinema, car hi-fi, navigation and multimedia. The company has a broad customer base consisting of large specialist retailers, department stores and trade chains in Germany and other European countries in the consumer electronics market.

"SM Electronic is a typical ARQUES transaction: ARQUES Industries is a partner for Thomson in realizing the spin-off of its subsidiary and also intends to further develop SM Electronic into a profitable company”, says Dr. Martin Vorderwulbecke, chairman of the executive board of ARQUES.

Dietrich Austermann, Minister of Economics of Schleswig-Holstein: “We have actively supported this transaction since ARQUES Industries AG offers very good future prospects for SM Electronic and intends to secure the site in Stapelfeld. With this transaction a valuable company is secured for Stapelfeld. Considering the unfavourable perspective of a couple of weeks ago, we are very happy about this development.”

As announced on October 31, 2007, ARQUES, Starnberg also took over the operational units of the MollerGroup in France, Spain and Brazil. ARQUES will continue this business under the name "Eurostyle“. The initial consolidation of Eurostyle is scheduled for December 31, 2007.

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