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 Friday March 9 2001
Results of Econosto
Econosto generated marginal profit of EUR 0.5 mln in the year 2000, compared with profit of 3.9m in 1999. Turnover fell by 2.5% to EUR 389 mln. The turnover fall was entirely due to the Flow and Sealing Technology division, which was faced with a lack of sales in the offshore and petrochemicals industries.

Friday September 8 2000
Econosto aims to link up with Eriks
Econosto aims to link up with Eriks Holding, Econosto chairman H.Verlage said in an interview with Dutch daily newspaper De Telegraaf. However, Eriks Holding is not interested in a link up with Econosto, Verlage told the paper. Econosto said market conditions would force Econosto into acquisitions, but that the company did not have resources available.

Thursday August 24 2000
Econosto first-half net profit
Econosto said on Thursday first-half net profit had slumped to euro 600,000 from year-earlier net of euro 4.8 mln, which included a euro 2.8 mln extraordinary gain on the sale of its GrassAir Compressor unit. The company is forecasting full-year sales and earnings higher than in 1999.

Thursday March 9 2000
Econosto net profit down 63%
Econosto reported on Thursday net profit for 1999 fell 63% to NLG 8.6 mln, compared with net profit of NLG 23.1 mln the company booked in the comparible period of 1998. Turnover increased 7% from NLG 825.0 mln to NLG 879.0 mln. Operating income fell 39% from NLG 42.1 mln to NLG 25.5 mln. Earnings per share for 1999 fell 66% to NLG 0.88, compared with earnings per share of NLG 2.62 for 1998.

Wednesday January 19 2000
Econosto finalises Enovax sale
Econosto said that it has finalised the sale of the Enovax activities to Honeywell. Enovax develops and produces electronics for central heating systems. The unit booked 1999 turnover of over NLG 2 mln with 16 employees.

Monday December 13 1999
Econosto issues profit warning
Econosto issued a profit warning on Monday saying that it would book an expected loss of some NLG 2.5 mln for the second-half of the year. For full-year 1999 the company expects to book a net profit of NLG 8 mln, one-third of the NLG 23.1 mln net profit it booked for full-year 1998. Econosto blamed the downturn on a decline in demand in the chemicals and offshore sectors.

Wednesday August 25 1999
Econosto H1 net profit up 7%
Econosto reported on Wednesday net profit for the first-half of 1999 increased 7% to NLG 10.5 mln, compared with net profit of NLG 9.8 mln the company booked in the comparible period of 1998. Turnover increased 7% from NLG 406.0 mln to NLG 433.0 mln. Econosto said the growth was for some 25% organic and for some 75% due to the consolidation of its stake in Malbranque Warmtetechniek in its figures.

Friday April 16 1999
Econosto to sell GrassAir
Econosto is selling its subsidiary GrassAir Holding to BestAir of Best. Econosto said GrassAir, which employs 68 people and has annual turnover of NLG 18 mln, is too small for Econosto. Econosto wants to concentrate on its units for Flow and Sealing and Comfort and Environment Technology.

Friday March 12 1999
Econosto net profit up 31%
Econosto reported on Friday net profit for 1998 increased 31% to NLG 23.1 mln, compared with net profit of NLG 17.6 mln the company booked in the comparible period of 1997. Turnover increased 28% from NLG 646.0 mln to NLG 825.0 mln. The growth was fuelled by acquisitions, Econosto said. Operating income increased 34% from NLG 31.5 mln to NLG 42.1 mln.

Thursday January 28 1999
Econosto in two new joint ventures
Econosto announced on Wednesday that its unit Comfort & Environment Technology and Italian Ferroli will start-up two new joint ventures for the German and Belgian heating markets. Both joint ventures will be managed by Econosto.

Thursday September 24 1998
Econosto finalises Malbranque takeover
Econosto said on Thursday that it has finanlised the takeover of Malbranque of France. Malbranque employs 250 people and booked 1997 turnover of some NLG 90 mln. Econosto said Malbranque will contribute to Econosto's turnover and profit in 1999.

Thursday August 20 1998
Econosto taking over Malbranque
Econosto is about to take over French firm Malbranque, based near Lille. Malbranque supplies valve and sliding locks to the petrochemicals industry and generated turnover of NLG 91 mln in 1997. Econosto will finance the take over with the proceeds of June's share issue.

Friday June 19 1998
Econosto issue price set at NLG 29/sh
ABN AMRO Bank said on Friday the issue price for shares in technical wholesaler Koninklijke Econosto had been set at NLG 29 per share. The number of new ordinary shares issued will be 1.5 million. Econosto granted ABN AMRO an additional option to purchase up to 225,000 shares to cover over-allotment.

Friday June 12 1998
Econosto issues new shares
Econosto is to issue 1,500,000 ordinary shares for which subscriptions will open on Monday. The new shares will expand the number of shares by 19.5%. Econosto has given lead-manager ABN Amro Rothschild a greenshoe option with a maximum of 225,000 ordinary shares.

Wednesday June 10 1998
Econosto to issue new shares
Econosto is to issue new shares to raise between NLG 50 mln and NLG 60 mln to strengthen its shareholders' equity and position it for growth. Subscriptions will be opened over the next few days for a public offering. Econosto is to sell its hydraulic and steering division to Hebu, which is part of the plan. The growth strategy will concentrate on acquisitions in Scandinavia, France and eastern Europe.

Wednesday June 3 1998
Econosto seeking takeover in Thailand
Econosto is in talks with Power Packaging Group of Thailand to gain a 51% stake in the company. The take over would increase Econosto's annual turnover in Thailand with some NLG 15 mln.

Tuesday May 5 1998
Econosto buys UK company
Econosto has taken over Ball Valves UK and will integrate it with Econosto's UK operation. Econosto aims to finance the transaction through the issue of ordinary shares. Ball Valves UK is a wholesaler in industrial seals and drive mechanisms with annual turnover of NLG 35 mln and 50 employees. The company mainly supplies the offshore and petrochemical industry. Following the takeover, Econosto upgraded both its turnover and profit forecast for this year from 25% to 30%.

Friday April 10 1998
Econosto takes over machine manufacturer
Econosto is to take over machine manufacturer A.J. van Rooijen & Zn. of Schiedam, specialised in the production of couplings. The company employs 8 people and generates annual turnover of some NLG 3 mln. Through the acquisition Enonosto expects to improve its market position.

Thursday March 12 1998
Econosto reports net profit up 29%
Econosto reports net profit for 1997 increased by 29% at NLG 17.6 mln, compared with NLG 13.6 mln the company booked for 1996. Turnover rose 27% from NLG 510 mln to NLG 646 mln. Earnings per share increased with 10% from NLG 2.08 to NLG 2.29.

Friday January 30 1998
Econosto takes over Stork Ventilatoren
Econosto reports the take over of J.E. Stork Ventilatoren in Zwolle and J.E. Stork Ventilatoren in Wemmel (Belgium) from a.o. NPM Capital and Alpinvest Holding. Both companies are active under the trading name J.E. StorkAir and has a turnover of around NLG 60 mln annually. J.E. StorkAir will be part of the division Comfort and Environment Technology of Econosto. The acquisition is being paid for from its own resources to contribute to profits this year.

Hebels Financial Website believes the information herein was obtained from reliable sources but does not guarantee its accuracy. Neither the information nor any opinion expressed constitutes a solicitation of the purchase or sale of securities, derivatives or commodities. © 2002 Hebels Financial Website