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Concluded the 100% acquisition of Meyer

Concluded the 100% acquisition of Meyer

Piacenza, the 5th of October 2006

BOLZONI S.p.A.: the 100% acquisition of Meyer has been concluded, the second manufacturer in Germany for lift truck attachments and the fourth worldwide.
Thanks to this operation Bolzoni increases its turnover by approximately 30% and considerably strengthens its leadership in Europe.

Bolzoni S.p.A., leader in Europe in the production of lift-truck attachments and listed in the STAR segment of Borsa Italiana since June 8 2006, today concluded the total acquisition of the German Meyer company, the second manufacturer in Germany for lift truck attachments and the fourth worldwide.

This operation allows Bolzoni to considerably strengthen its leadership in Europe by reaching an overall market share of 40%, thus becoming the leaders in Germany while also increasing its worldwide market position in the lift truck attachment segment.

Following the Meyer take-over, the Bolzoni Group, who closed the financial year 2005 with a net income of 96 million euro, will boost its turnover by 30% bringing its pro-forma consolidated net sales to over 130 million euro for the entire financial period 2006. Bolzoni’s consolidated financial report ending December 31st 2006 will include the results of the Meyer Group as from November 1st 2006.

In addition to the headquarters and production site in Salzgitter, near Hannover, the Meyer Group also includes three commercial subsidiaries in France, U.K. and Sweden. The Meyer Group employs 220 people.

The price agreed for the operation, which will be paid thanks to the proceeds from the recent listing, is included in a range going from 7 to 9.5 million euro, depending on the EBITDA established as target for the end of 2006.

The Meyer company, who closed the financial year 2005 with a turnover of 26.7 million Euro (11.3% more than 2004), an EBITDA of 1.6 million euro and a negative net financial position of approximately 4 million euro, was founded by Hans Meyer in 1953 and is part of the history of the lift truck attachment business.

The above takeover is not subject to approval by the Antitrust Authorities.

“We are very satisfied at the operation we have just concluded – declares the Chairman Emilio Bolzoni – because it enables us to consolidate our leadership in Europe and increase our market share worldwide. Meyer represents a great tradition in the lift truck attachment world with an excellent brand image and products highly appreciated for their quality. Thanks to Meyer’s entry in our group, we have also become leaders in Germany, the most important European market.”

“We are keeping the promises we made during our recent listing – states Mr Roberto Scotti, the company’s CEO – both from the point of view of financial results for the first half of 2006 as recently approved by the Board and also from the point of view of external growth. We said we were working on an important acquisition and we are happy to announce this result only 4 months after our listing in the STAR segment of Borsa Italiana.”

“We are delighted to be able to share with you the news that Meyer GmbH will be a part of the successful Bolzoni-Auramo Group with immediate effect” says Hans Meyer, Chairman of Meyer GmbH. “Bolzoni is a very dynamic and innovative enterprise which Meyer compkements very well. This operation opens a new chapter in the history of our firm and we will therefore do all that we can to delivery the quality and the reliability for which we are known.”

Bolzoni, a company listed in the STAR segment of Borsa Italiana, is the European leader in the production of lift-truck attachments and the second major manufacturer worldwide and also in the US market.

Through the design, production and distribution of a wide range of attachments, Bolzoni is an important presence in the market niche of lift-truck attachments and industrial material handling.

Bolzoni closed the first half of 2006 with a consolidated turnover of 50.8 million euro (+7.4% compared to the 47.3 million Euro recorded as at 30/06/2005) 16 companies (including the parent company) six of which having a manufacturing activity, with plants in Italy, USA, Finland, Estonia, Spain and China and the other ten commercial subsidiaries, Bolzoni represents a true multinational group with a global organisation present on all the continents and one of the most
dynamic realities at a worldwide level within the vast market segment of logistics and material handling.

The Company will hold a conference call on Monday October 9 for investors in order to supply further details of the operation; the Company will notify the hour and instructions for taking part in the conference call.