BSH Bosch und Siemens Hausgeräte GmbH is the largest manufacturer of home appliances in Europe and one of the leading companies in the sector worldwide. BSH operates 42 factories in 13 countries in Europe, the USA, Latin America and Asia. Courtesy of BSH

Munich, Germany and Warsaw, Poland - November 14, 2012

As a result of the process announced by Zelmer on 28 August 2012 for a search of a new strategic investor, BSH Bosch und Siemens Hausgeräte GmbH (BSH) signed binding agreements on 13 November 2012 with Zelmer to launch through its polish subsidiary BSH Sprzęt Gospodarstwa Domowego Sp. z o.o. a public tender offer to purchase 100% of Zelmer share capital at PLN 40 per share and with Enterprise Investors to tender their entire 49% interest in Zelmer.

BSH Bosch und Siemens Hausgeräte GmbH group stemmed from a joint venture set up in 1967 between Robert Bosch GmbH (Stuttgart) and Siemens AG (Munich) and posted annual sales of about 9,7 billion Euro in the year 2011. Courtesy of BSH

The Public Tender Offer filed today is expected to last 70 calendar days as from December 4th 2012 and will be subject to the approval of relevant antimonopoly authorities.

Zelmer S.A. - History In the inter-war period the area that now belongs to Zelmer S.A. was occupied by the Field Kitchen and Military Equipment Factory “Mars” Sp. z o.o. On April 20, 1937, after taking over the area occupied by the Field Kitchen and Military Equipment Factory “Mars” Sp. z o.o., the construction work of the H. Cegielski Machine Tool Factory, Branch Rzeszów commenced (private ownership). The State Treasury participated indirectly in the construction process through granting long-term loans. In the autumn of 1937 the factory started its production activity. In addition to machine tools, the factory produced multi-tool turret lathes, single-spindle automatic lathes, multi-spindle automatic lathes, multi-radial drilling machines and military equipment (anti-tank guns, anti-aircraft guns, artillery support equipment). Courtesy of Zelmer

With a tender offer price of PLN 40 per share, BSH offers a 44% premium over the share price as of 27 August 2012 (the day before Zelmer’s announcement of its search for a strategic investor), a 30% premium over the share price as of 13 November 2012, and a 38% premium over the six-month volume weighted average share price.

Zelmer Maestro, model 13Z012. The modern high-pressure (15 bar) espresso machine – Zelmer Maestro model 13Z012 with a large LCD display enables you to have full control over the brewing process. The appliance is equipped with an exceptional water heating system – Thermoblock, which makes it possible to reach and maintain the temperature level appropriate for each function. In addition, thanks to a special coating the scale accumulation process is slowed down, which in turn causes that you don’t have to descale the appliance very often. The Crema System creates a rich, long-lasting froth, and with the specially designed filter it is possible to prepare two cups of coffee at the same time. The cup warming function, the large (over 2-litre) water tank and the frothing jug facilitate using the appliance. Courtesy of Zelmer

Based on last twelve months’ financials as of 30 September 2012, BSH offers a multiple of 9.4x EV/EBITDA and 17x P/E.

Zelmer Supremo, model 13Z013 The high-pressure (15 bar) espresso machine – Zelmer Supremo model 13Z013 impresses with its elegant simplicity and high quality finish. Thanks to the process of preliminary coffee brewing and the possibility to warm up the cups, the coffee made in the Supremo espresso machine pleases the senses with exceptional flavour and aroma. The Crema System, equipped with a double-bottom filter, makes a rich, lasting froth. The filter creates back pressure which allows for maintaining the temperature level and ensures the perfect shot of espresso every time, as a result preparing a delicious froth. The special filter enabling the preparation of two cups of coffee at the same time, the Thermobloc water heating system, the manual control and the frothing jug are extra assets of this appliance. Courtesy of Zelmer

“BSH is pleased with the perspective to acquire Zelmer. This acquisition will strengthen BSH´s presence in Central and Eastern European countries. Zelmer´s brand name enjoys a high recognition in small domestic appliances and is expected to further accelerate the development of our Consumer Products division”, said Dr. Ralf Fuchs, Executive Vice President Product division Consumer Products Global, BSH Group.

Janusz Płocica, Zelmer CEO. Courtesy of Zelmer

“We can announce with satisfaction that the process, which lasted for past several weeks, is now successfully completed. The selected investor offers an attractive price per share for current shareholders and will support us in the further development, building upon major strengths of Zelmer such as a strong brand, an efficient production facility in Rogoznica and highly experienced employees”, said Janusz Płocica, Zelmer CEO.

Zelmer microwave oven, model 29Z019 This built-in microwave oven is made of very high quality materials and features a large variety of functions. Combination cooking, which takes advantage of features from both microwave and grills, multi-stage cooking, which allows for the programming of the process of dish preparation, as well as automatic cooking menus designed for specific dishes will turn the process of meal preparation into a real pleasure. Additionally, thanks to the option of programmable start-up, the oven can begin cooking your dinner at the required time, before you come back from work. Courtesy of Zelmer

“From Enterprise Investors’ perspective the investment in Zelmer turned out to be a model one. We invested in a company with strong prospects, conducted necessary restructuring programs and supported its growth. Today we are exiting this investment, with a highly attractive return”, said Jacek Siwicki, President of Enterprise Investors.

Zelmer Deep-fat fryers, model 04Z010 Full control over the frying process. Temperature regulation from 130 to 190°C combined with the digital timer will allow you to accurately set the parameters of preparation for chips, fish, lobsters, mushrooms, vegetables and many other delicacies. Additionally, a large viewing window on the top of the appliance will make it possible to monitor the frying process and interrupt it if there a need arises. After the meal you do not have to worry about washing up - the main elements of the fryer are dishwasher safe. Courtesy of Zelmer

BSH Bosch und Siemens Hausgeräte GmbH

BSH Bosch und Siemens Hausgeräte GmbH is the largest manufacturer of home appliances in Europe and one of the leading companies in the sector worldwide.

The group stemmed from a joint venture set up in 1967 between Robert Bosch GmbH (Stuttgart) and Siemens AG (Munich) and posted annual sales of about 9,7 billion Euro in the year 2011.

Courtesy of BSH

Today, BSH operates 42 factories in 13 countries in Europe, the USA, Latin America and Asia.

Together with a global network of sales and customer service firms, the BSH family is today made up of about 70 companies in 49 countries, with a total workforce of over 45,000 people.


Contact

Stephanie Reuter
Spokesperson
corporate.communications@bshg.com  
Phone +49 (089) 45 90 01
Mobile +49 (151) 14 77 88 69
Fax +49 (089) 45 90 21 28
BSH Bosch und Siemens Hausgeräte GmbH
Carl-Wery-Str. 34
81739 Munich
Germany


Dr. sc. pol. Kurt-Ludwig Gutberlet

Chairman & Chief Executive Officer of BSH Bosch and Siemens Hausgeräte GmbH

Corporate Internal Audit,
Corporate Communications,
Corporate Responsibility, Sustainability,
Corporate Strategy, Processes, Organization Development,
Product Division Consumer Products,
Product Division Customer Service

Dr. sc. pol. Kurt-Ludwig Gutberlet Chairman & Chief Executive Officer of BSH Bosch and Siemens Hausgeräte GmbH Courtesy of BSH

born 1957 in Düsseldorf

studied Economics at Tübingen and Kiel Universities

graduated with Dipl. sc. pol. (diploma in Political Science) in Kiel

Member of scientific staff at the Institut für Weltwirtschaft, Kiel

Post-graduate Fellow at Yale University, New Haven CT

Doctorate in Political Science with Prof. Brockhoff at the Kiel University


1983 joined BSH Bosch und Siemens Hausgeräte GmbH, Munich Strategic planning group

1985 Product Management microwave oven

1989 Product Management hobs and microwave oven

1994 Head of Product Marketing, dishwashers

1995 Managing Director of BSH France in Paris

1996 Managing Director of Bosch Appliance Sales, Germany

1998 Managing Director of BSH China in Nanjing

2000 Member of the Board of Management of BSH Bosch and Siemens Hausgeräte GmbH

2001 Chairman of the Board and Chief Executive Officer of BSH Bosch and Siemens Hausgeräte GmbH


Source: BSH Bosch und Siemens Hausgeräte GmbH

http://www.bsh-group.com/index.php  

Zelmer Prymus Mix, model 878 A real revolution in the kitchen. This technologically advanced, multifunction kitchen aid will take over all of the tiring and time-consuming activities associated with the preparation of dishes or drinks, leaving its user with the sheer pleasure of composing meals. Depending on the attachment used the appliance will take on the functions of a food processor, dough kneader, liquidizer and even a juice extractor. The microprocessor system will monitor the working speed appropriate for each attachment. Courtesy of Zelmer

ASTROMAN Magazine - 2012.11.11

Siemens to Acquire LMS International for 680 Million Euro

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1348  

Zelmer juice-extractor Juice Master, model-476 Modern juice extractor made of top-quality stainless steel. It can extract juice from whole fruit without the need to peel them. Practical for every kitchen – you can obtain 1 litre of fresh juice within 1 minute. The juicer features 2 rotational speeds, a TURBO function and a juice jug with a foam separator. Courtesy of Zelmer

ASTROMAN Magazine - 2012.09.22

Siemens opens urban development center - the Crystal - in London

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1318  

Zelmer Mixer Mix Robi, model 381 High-powered multifunction hand mixers equipped with many attachments, e.g. liquidizer. They perform a variety of functions including: cocktail preparation, whipping egg whites and cream, mixing, chopping and shredding. The standard version of model 381.61 and 381.6 includes a stand with a detachable bowl. Courtesy of Zelmer

ASTROMAN Magazine - 2012.06.21

Siemens: the Integration of Regenerative Energy and Electric Mobility

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1259  

Zelmer Steam cookers, model 37Z010 This appliance will be greatly appreciated by those who keep healthy diets as well as those who want to slim down or stay in shape. The benefits of steam cooking are obvious to everyone - low calorie dishes that retain vitamins and full nutritional value as well as an exquisite flavour.  Additional benefits of the appliance include the ease with which you can prepare dishes. And after dinner you do not have to worry about washing up. The main elements of the steam cooker are dishwasher safe. Courtesy of Zelmer

ASTROMAN Magazine - 2012.03.24

Siemens is acquiring the Connectors and Measurements Division of Expro Holdings UK for 470 million euros

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1210  

Zelmer Cordless Kettle Pelikan, model 333 Electric kettles equipped with a concealed heating element can boil even small volumes of water. All models come with a special anti-scale filter and cord storage facility. Courtesy of Zelmer

ASTROMAN Magazine - 2012.02.19

Siemens strengthens its position in ocean power - Acquisition of Marine Current Turbines

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1180  

Zelmer Vacuum cleaner Elf, model 321 This compact vacuum cleaner is equipped with basic yet effective functions. Extremely light and handy, easy to bother carry and store, it features electronic suction power control, dust bag full indicator and a cable rewind system. The perfect vacuum cleaner for small spaces. Courtesy of Zelmer

ASTROMAN Magazine - 2011.12.29

High-Tech Hut Magic on Monte Rosa

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1134  

Zelmer classic Vacuum cleaner Solaris, model 5000 An extremely powerful, silent vacuum cleaner incorporating state of the art features such as the HEPA-13 filter, digital power control and filter replacement signal. The effective working radius of up to 12 metres makes it possible to clean even the farthest corners of your house without the need to replug. Thanks to the unique auto-reverse function, the cable connecting the vacuum cleaner to the power socket is always the right length. Courtesy of Zelmer

ASTROMAN Magazine - 2011.12.03

Siemens publishes African Green City Index analyzing 15 major cities in 11 African countries

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1112  

Zelmer – the Highest Reputation Brand The Zelmer Brand was named the Highest Reputation Brand in the Home&Office category in the third edition of an independent brand reputation ranking PremiumBrand. In this way Zelmer defeated such well known brands as Panasonic, Samsung, Electrolux, Hewlett Packard, Canon and Dell. Courtesy of Zelmer

ASTROMAN Magazine - 2011.11.26

Siemens honors twelve inventors - R&D investments to increase by EUR500 million

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1107  

Pillars of Polish Economy The editorial team of Puls Biznesu together with the international business information agency Coface Poland prepared the Pillars of Polish Economy ranking, that is the companies that play a vital role in particular Polish provinces. Zelmer S.A. took the first place in the Podkarpackie province and became laureate of the main prize as a business reliable company, reliable in terms of fulfilling its trade and public obligations. Courtesy of Zelmer

ASTROMAN Magazine - 2011.11.22

Siemens: Grand Opening of the Charlotte gas turbine manufacturing facility

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1106  

Zelmer Capital Group is a structure made up of Zelmer S.A.’s subsidiary companies conducting mostly commercial activity. The companies in the Czech Republic, Slovakia and Russia develop distribution networks for our products in those markets. Courtesy of Zelmer

ASTROMAN Magazine - 2011.10.17

Siemens puts solar farm in the south of France on line

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1079  


ASTROMAN Magazine - 2011.09.25

Siemens brings renewables-based power to Mallorca

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1062  


ASTROMAN Magazine - 2011.09.03

Siemens and Volvo Car Corporation launch electric mobility partnership

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1047  


ASTROMAN Magazine - 2011.07.09

San Francisco leads the U.S. in environmental sustainability

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1013


ASTROMAN Magazine - 2011.06.12

Siemens starts operating its first 6 megawatt wind turbine

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=993  


ASTROMAN Magazine - 2011.05.15

Largest contract: Siemens is to build ICx for Deutsche Bahn

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=974  


ASTROMAN Magazine - 2011.04.18

Siemens: the Train of Ideas on European tour as an environmental embassador

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=946  


ASTROMAN Magazine - 2011.01.23

Siemens Healthcare unveils the world's first integrated whole-body molecular MR system available for clinical use

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=887  


ASTROMAN Magazine - 2011.01.02

Atos Origin and Siemens to create a European IT Champion

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=870  


ASTROMAN Magazine - 2010.10.23

OSRAM LED for thermal stability. OSLON Black Series

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=827