EQS-Adhoc: Airopack Technology Group starts procedure to terminate JV with Resilux

EQS Group-Ad-hoc: Airopack Technology Group AG / Key word(s): Miscellaneous Airopack Technology Group starts procedure to terminate JV with Resilux

2016-01-07 / 07:25 Release of an ad hoc announcement pursuant to Art. 53 KR. The issuer is solely responsible for the content of this announcement.

Airopack Technology Group starts procedure to terminate JV with Resilux

- Deadlock notice served to Resilux regarding Airolux joint venture

- Actions being taken as Resilux has refused to constructively engage

- ATG remains determined to unlock growth potential of Airopack

Baar, 7th January 2016 - Airopack Technology Group AG ("ATG") today announces that it has undertaken steps to initiate a formal termination of its Airolux AG ("Airolux") joint venture with Resilux NV ("Resilux"). ATG believes Resilux cannot provide sufficient strategic support to the joint venture to achieve the Airopack technology's unique growth potential and to meet customer demands. ATG's actions are being commenced given Resilux's lack of support in the JV and after Resilux has refused to constructively engage with regard to the offer made on 14th December 2015 to acquire Resilux's stake in the joint venture.

Following Resilux's lack of engagement, ATG has issued a Deadlock Notice to Resilux under the terms of the Airolux joint venture agreement, which will allow ATG to initiate procedures terminating the relationship. Previously, ATG presented Resilux an offer to acquire the Airolux stake from Resilux, including full repayment of all Resilux's outstanding shareholder loans and financial debts, alongside a long-term supply agreement for PET preforms and container parts. ATG is following a thorough process, including properly and sufficiently informing Resilux.

On 17th December 2015 ATG announced that it had initiated discussions with Resilux to undertake an acquisition of its 50% stake in Airolux and that it had entered into a transaction with funds managed by affiliates of Apollo Global Management, LLC (intended, in part, to finance the buy-out). The buy-out of the joint venture will allow ATG to accelerate the Airopack growth potential, improve time to market, reduce costs, and enhance the organizational footprint.

ATG remains resolute in its intention to acquire Resilux's stake, and is proceeding with steps towards a formal termination of the relationship, which are clearly set out in the joint venture agreement with defined steps and timelines.

ATG's serving of the deadlock notice will have no impact on day-to-day operations and Airolux will continue production in the normal course of business.

ATG also refers to its press release of the 17th December 2015 "Strategic Partnership with funds affiliated with Apollo Global Management".

Further announcements will be made if and when appropriate.

For more information:

Investors: Media:

Airopack Technology Group AG Hill + Knowlton Strategies Quint Kelders, CEO / Frans van der Vorst, CFO Frans van der Grint Zugerstrasse 76b T: +31 (0) 20 404 4707 / M: + 31 (0) 6 29044053 CH-6340 Baar E-Mail: frans.vandergrint@hkstrategies.com TF: +31 416 300 800 E-Mail: quint.kelders@airopackgroup.com frans.vandervorst@airopackgroup.com www.airopackgroup.com

Airopack Technology Group AG is a leading developer and supplier of mechanical and pressure-controlled dispensing packaging technologies and systems for manufacturers and suppliers of cosmetics, body care, pharmaceutical and food products. The revolutionary and worldwide patented Airopack(R) technology offers a safe, all-plastic pressurized dispenser that is environmentally friendly: no inhalation risks, no propellants and no unnecessary waste. Unlike other pressurized dispensers that use propellants Airopack(R) uses just normal compressed air which results in dispensing a formulation at constant pressure from start to finish.

Airopack Group does not only offer this patented technology but also has a Full-service operation. With this Full-service operation Airopack Group provides a turnkey solution to quickly and easily launch customer products in Airopack(R). Via the unique Full-service operation Airopack Group can mould, assemble, sleeve or label, fill and pack Airopack(R) to customer's specifications. In addition Airopack Group has a highly experienced laboratory for formulation development and bulk production to ensure the best quality and control.

Airopack Technology Group operates a manufacturing facility in Glarus Nord, Switzerland, a Full-service operation in Belgium, global R&D and customer service facility in Waalwijk, the Netherlands and sales offices in the United States of America. With deliveries to the world's largest and leading consumer brands, Airopack Technology Group reached a key milestone in 2015 with respect to commercial market entry. The shares of the company are listed on the Swiss Reporting Standard of the SIX Swiss Exchange since 2010. (Ticker: AIRN / ISIN: CH0242606942). www.airopackgroup.com End of ad hoc announcement

2016-01-07 News transmitted by EQS Schweiz AG. www.eqs.com - news archive: http://switzerland.eqs.com/de/News

The issuer is responsible for the contents of the release. Language: English Company: Airopack Technology Group AG Zugerstrasse 76b 6340 Baar Switzerland Phone: +41 417663500 Fax: +41 417663509 E-mail: frans.vandervorst@airopackgroup.com Internet: www.airopackgroup.com ISIN: CH0242606942 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart; Open Market in Frankfurt ; SIX

End of News EQS Group News Service 427515 2016-01-07

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   January 07, 2016 01:25 ET (06:25 GMT)- - 01 25 AM EST 01-07-16