01 June 2007

Nimbus invests in Binz

Nimbus is pleased to announce that it has acquired a controlling interest in BINZ, one of Germans leading suppliers for innovative, special automobiles ranging from rescue vehicles to stretched limousines. The remaining shares are held by the Board and its Management.

Nimbus invests in Binz

BINZ has manufacturing facilities in Lorch, Waldhausen and Ilmenau.

In Lorch, the company manufacturers on the basis of the Mercedes Benz E-Class chassis a variety of vehicles ranging from the renowned BINZ ambulance and extended limousines to hearses for clients around Europe and other parts of the World.

In Ilmenau, BINZ produces on the basis of commercial vehicles ambulances, police cars, command vehicles and other products such as mobile hospitals for the civil- and military rescue market.

In Waldhausen the Group maintains a service and distribution centre for ambulances.

In 2006 BINZ employed approx. 200 people and generated revenues well in excess of 50 million Euro. The BINZ brand is world-renowned and stands for state of the art high quality special vehicles.

The acquisition involved a sizeable capital injection in which the board and management also participated. The growth capital contributed by the shareholders will allow BINZ to leverage its unparalleled experience and know-how to further develop and grow its operation in the years to come.

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