Ceric to join Groupe Legris Industries

Ceric to join Groupe Legris Industries

On October 4th, the shareholders of CERIC have signed an agreement with the Officers of Legris Industries regarding the acquisition of CERIC and all its subsidiaries. This action corresponds to our desire to sell CERIC to a strong industrial partner to ensure the future of our company.

The Legris Group is a major player in the fields of "industrial connectors and fasteners" (Legris) and of "automated warehouse management" (Savoye). Seventy percent of the group activity, based on sales, is outside of France. Here are a few figures for 2006:

• Sales 320 Million Euros

• Number of employees: 2,220

• Operating income: 33 million Euro

• Research and Development budget: 8 MM Euro

Legris Industries core values are based on a strong company identity and on genuine human relations between all the employees. Legris Industries is viewed by the shareholders, the management and the employees committees as the best option for the future of CERIC.

The closing of the sale is still conditioned to the approval by the Anti-trust authorities but, in all likelihood the transaction should be completed by the end of the year. Until then, the actual owners of CERIC are still assuming their normal duties. However, they are extremely happy to share with employees and customers alike this new development in the history of CERIC and trust that you will see these new shareholders in the same light as they do: a great solution to guarantee the future of CERIC.