Download - Salzgitter AG

In the Tubes Division, 100% of Vallourec Précision Etirage S.A.S., Saint Florentin, France, was acquired,
as well as assets and liabilities of Rohrwerk Zeithain from Vallourec & Mannesmann Deutschland
GmbH, Düsseldorf. Since their acquisition, these assets and liabilities have been serving the operating
activities of Mannesmannrohr Sachsen GmbH, Zeithain.
The companies contributed € 152.6 million to the Group’s sales and € 5.7 million – after purchase
price allocation – to its profits in the second half of 2007.
The following assets and liabilities were acquired as a result of the acquisition:
in T€ Fair value Book value at
acquired company
Other intangible assets 353 353
Brand names 564 –
Customer relationships 875 –
Technologies 2,527 –
Property, plant and equipment 68,742 55,654
Financial assets 1,096 1,096
Inventories 61,477 54,127
Receivables 78,833 78,833
Cash and cash equivalents 1,796 1,796
Other assets 1,408 1,408
Other provisions –3,338 –3,338
Pension provisions –7,370 –7,370
Liabilities –65,368 –64,176
Deferred tax – net –17,961 –9,769
Net assets 123,634 108,614
Minority interest –
Net assets acquired 123,634