REpower places bid to acquire assets of Schaumann GmbH & Co KG

Retention of more than 30 jobs

Hamburg, 3 July 2008. REpower Systems AG (WKN 617 703) has made its long-time logistics partner Schaumann GmbH & Co KG an offer to purchase its vehicle fleet and other operating assets as well as to acquire of all its employees. By means of this acquisition, REpower intends to secure important transport capacities for wind turbines and at the same time contribute to maintaining the jobs of Schaumann’s more than 30 employees. In the medium term, REpower expects a competitive advantage from integrating the logistics acquisition into its business model due to increased flexibility with regard to shipments, which will also contribute towards a reduction of costs. Both parties have agreed to maintain confidentiality regarding the purchase price.

Originally, the owner-operated heavy-load carrier business was due to shut down at the end of July. The planned transaction envisions the transfer of the vehicle fleet, the other operating assets and the carrier’s team of employees to a yet-to-be-established wholly owned subsidiary of REpower Systems AG. For this purpose, the staff members are to receive an offer to maintain their contracts within the new company. Furthermore, REpower shall assume existing rental agreements made by Schaumann.

Among other things, the agreement is subject to an expert evaluation of the Schaumann vehicle fleet and is to be completed by the end of August, at the latest.

Per Hornung Pedersen, CEO of REpower Systems AG, is gratified: “Over the past years, Schaumann has always been a reliable logistics partner for us. On the one hand, we are happy that we are able to secure capacities for our heavy-load shipments by means of this agreement and, on the other, we can contribute towards securing over 30 jobs. We hope that all employees concerned, if possible, will take advantage of the option to continue their employment with us and wish, by this means, to extend them a warm welcome to the REpower Group. We also hope that integrating a logistics company will make a positive contribution to operating results in the medium term.”