Closing of divestment of ZTC by TKH

Following the press release of 14 November 2019 of the divestment of 95% of the shares of Zhangjiagang Twentsche Cable Co. Ltd. (‘ZTC’), in Zhangjiagang (China) to Shanghai Electric Group Company Ltd. (‘Shanghai Electric’) in Shanghai (China) and the remaining 5% to ZTC's key management, TKH Group NV (‘TKH’) announces that the transfer of shares has taken place.

The turnover from the divested activities in 2018 totalled € 67.5 million with an EBITA of € 4.7 million and a workforce of 194 FTE.