Swiss agency drops probe of Forbo

ERJ staff report (R&PN)

Baar, Switzerland -Forbo Holding A.G. said a Swiss government agency no longer is investigating a possible violation of disclosure obligations connected with Forbo's purchase of a stake in another company in 2008.

The Swiss belting, adhesives and flooring firm bought a 5-percent interest in Reiter Holding Ltd. in July 2008. That raised Forbo's ownership in the maker of automotive acoustics and textile equipment to just over 10 percent.

A month later the Swiss Financial Market Supervisory Authority said it was investigating a possible infringement of a disclosure obligation in connection with the purchase.

Reiter supplies parts to cut noise, vibration and harshness in vehicle interiors, many based on polyurethane, as well as textile-making machinery.

From Rubber & Plastics News (A Crain publication)

Press release from Forbo