Bucher Industries and Sacmi Cooperativa Meccanici Imola a.r.l. have signed an agreement to sell 100% of the ownership interest in Laeis Bucher Technology GmbH to Sacmi Group. Sacmi has a leading position in the ceramic industry and is the ideal strategic partner to further expand the business of Laeis Bucher Technology GmbH. Under the new ownership, the company's name will be Laeis GmbH. The acquisition does not include LB Produktion GmbH, the production business of the former Laeis Bucher GmbH. The sale was scheduled to take place in January 2004, with retroactive economic effect as of January 1, 2004. The transaction is not subject to approval of merger control authorities. The new owner will continue all employment relationships of Laeis Bucher Technology GmbH, and Karl Eping will go on managing the operations of Laeis GmbH.