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The information contained in these press releases and statements was accurate, in all material respects, at the time of issuance. However, Continental Aerospace Technologies GmbH assumes no obligation to update the information to reflect subsequent developments.
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Feb 27, 2006
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Thielert AG admitted to the SDAX index as of march 2006
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Hamburg – The Hamburg-based aircraft engine producer Thielert AG is to be admitted to the SDAX index of the Deutsche Börse (German Stock Exchange) in Frankfurt am Main ahead of schedule as of 1 March 2006. In this index, the share of Thielert AG will be taking the place of the Vivacon share, which has moved up into the MDAX for the Degussa share. The next date for the scheduled review of the share index of the Deutsche Börse is 3 March 2006.
"Since as far back as the index ranking of 31 January, our share has been regarded as a candidate for promotion into the SDAX. We are now delighted about being admitted ahead of the actual review date of 3 March”, said Frank Thielert, CEO of Thielert AG. "Being admitted to an index improves the value of the share – the company is watched more closely by investors and our customers also appreciate this. The company’s promotion to an index is also testimony to the tremendous performance of all the employees and a reflection of the exceptionally good development of our company since flotation in November”, continued Thielert. The company expects to remain on the growth path it has embarked upon. The fourth quarter of 2005 was the strongest in the company’s history, with the 2006 financial year getting off to a flying start and being ahead of target.
In the latest stock market ranking used for preparing the index, the Thielert share achieved place 87 in terms of its market capitalisation and place 102 in terms of its order book turnover. This excellent position has prompted the unscheduled promotion of the Thielert share into the SDAX index of the Frankfurt Stock Exchange, where it will be replacing the Vivacon share. The Vivacon share will be admitted as of 1 March 2006 ahead of schedule to the MDAX, where it will replace the share of Degussa AG. The freefloat of Degussa had fallen below five percent. As such, Degussa no longer satisfied the requirement for remaining in the MDAX. The admission of the Thielert share had been expected on the market to coincide with the revaluation of the index on 3 March 2006.
Thielert’s expansion plans for the U.S. in 2006 include the acquisition of a manufacturer of aviation components as well as increasing its workforce by 50 to 320. The company, established in 1989, is the world’s leading provider of certified jet fuel aircraft engines, which are developed and produced under the brand "Centurion". Thielert AG has been listed in the Prime Standard of the Frankfurt Stock Exchange since 17 November 2005. The issue price of the share was 13.50 euros. On Monday, 27 February 2006, the share price closed at 18.90 euros (Xetra) at the end of the day’s trading.
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