06.05.2010 | Austria

Statement of S&T on the insolvency of AvW Invest AG and the AvW Group

S&T AG would like to issue the following statement, having received inquiries and reactions from employees, customers, partners, shareholders and suppliers:

The filing for insolvency on the part of the above-mentioned AvW companies, which are S&T shareholders of S&T, has neither an economic nor an operational impact on S&T, nor does is it impose any economic obligations or burdens on S&T whatsoever.

The AvW companies have never been and are not in any way involved in S&T’s operational business. S&T is only one of several stakes in (publicly listed) companies which AvW holds. We assume that the appointed administrator will act carefully, quickly and in the best interests of S&T in what is certainly a difficult environment.