EQS-Adhoc: Airopack Technology Group takes action to end joint venture with Resilux

EQS Group-Ad-hoc: Airopack Technology Group AG / Key word(s): Miscellaneous Airopack Technology Group takes action to end joint venture with Resilux

2016-03-29 / 08:00 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 takes action to end joint venture with Resilux

- ATG, through its new strategic partnership, remains committed to unlocking the growth potential of Airopack through further investments

- Further steps in procedure to end joint venture with Resilux

- Ending the Airolux joint venture will allow ATG to reach its next level of growth by increasing production and enhancing its organizational footprint

- ATG looks forward to expanding the use of its revolutionary and worldwide patented Airopack technology to serve leading fast-moving consumer goods companies

Baar, 29th March 2016 - Airopack Technology Group AG ("ATG") today announces that it has taken further steps to terminate its Airolux AG ("Airolux") joint venture with Resilux NV ("Resilux") and regain the exclusive use of ATG's Airopack technology. These steps are necessary since parties did not reach an agreement following the issuance of a Deadlock Notice as announced on 7th January 2016. ATG is the inventor and exclusive owner of the globally patented Airopack technology, which offers a revolutionary all-plastic pressurized dispenser used by leading global brands.

ATG will terminate its joint venture with Resilux in order to unlock the unique growth potential of innovative Airopack technology. Under the terms of the joint venture agreement, ATG has offered to acquire Resilux's 50% stake in Airolux for a cash consideration of EUR18.9 million. Resilux's outstanding shareholder loans and financial debts to Airolux of around EUR37million will have to be repaid as required by the relevant agreements. Resilux will not be entitled to any long-term supply agreement with ATG for PET preforms and container parts, which ATG would look to source from alternative suppliers at market competitive rates.

Resilux has until 25th April 2016 to either unconditionally commit to selling its shares in Airolux to ATG, or to acquire ATG's shares in Airolux under the same terms as proposed by ATG. In the event that Resilux would opt to acquire ATG's shares in Airolux, a 100% Resilux-owned Airolux would not have access to ATG's patented Airopack technology. ATG has terminated the license agreement with Airolux and would independently commercialize the product to continue meeting robust customer demand.

ATG currently has 158 global patents and serves some of the world's largest fast-moving consumer goods companies. Termination of the joint venture will allow ATG to reach the next level of growth by expanding production of its technology, improving time to market, reducing costs, and enhancing its organizational footprint. In conjunction, ATG has developed a new website (www.airopack.com) to showcase its unique patented technology and meet strongly increased customer inquiries.

ATG remains committed to the process with its new strategic partner, funds managed by affiliates of Apollo Global Management, LLC (NYSE:APO) (together with its consolidated subsidiaries, "Apollo"), and its legal and financial advisors.

Further announcements will be made if and when appropriate.

About Airopack Technology Group (ATG)

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 and solely by ATG patented Airopack(R) technology offers a safe, all-plastic pressurized dispenser that is environmentally and planet friendly

Airopack Technology Group operates under 100% own control a Full-Service Filling operation in Heist op ten Berg Belgium, an Global Research and Development Team and the Airopack Global Management and Customer Service Organisation in Waalwijk, The Netherlands .

Airopack Technology Group operates a Airopack Ready to Fill manufacturing facility in Glarus Nord, Switzerland with Resilux Schweiz AG. Airopack Technology Group plans to start and operate two new Airopack Ready to Fill Manufacturing sites, being in North America and on a second location in Europe, in the course of 2016. 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.

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

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

2016-03-29 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 449033 2016-03-29

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   March 29, 2016 02:00 ET (06:00 GMT)- - 02 00 AM EDT 03-29-16