WALTER GROUP IS GROWING

Prague, April 10, 2007 – FF Invest a.s. („FFI“), the 100% shareholder of Walter Engines a.s. („Walter Engines“) purchased company Prague Casting Services a.s. („PCS“). PCS is producing investment castings for aircraft and ground turbine engines and nuclear industry. PCS employs 75 people in Prague – Jinonice and last year reached sales 95 mil. CZK and after tax profit 7,2 mil. CZK.

„After 15 years the group acquired back the key technology necessary for further development and production of aircraft turbine engines – the vacuum investment casting. The synergy effect of the connection of PCS and Walter Engines should lead to the productivity growth within the whole group and in the same time should allow to offer more complex products with higher added value in our parts production program for leading European aerospace companies“, said Michal Cerny, Chairman of FFI.

Walter Engines does not only strictly fulfil all requirements for the environmental protection given by the European legislation. In 2006 year the company implemented in its procedures (on top of the valid European norms) the requirements of the most demanding environment protection norm EN 14001. The certification of the company in accordance with this norm will be finalized by September 2007. „PCS will be immediately involved in this process as well“, said Robert Dvorak, Quality and Environment Protection Manager of Walter Engines.


PRESS CONTACT:
Michal Cerny
e-mail: mcerny@walterengines.com
phone: +420 257 210 350