Niederweningen, 18 February 2005

Bucher Industries takes over the European and Australian sweeper business of Johnston Sweepers Ltd. from U.K. based Ennstone plc. The division Bucher Automotive and Johnston are both leading in the compact and truck-mounted sweeper business in largely complementary sales territories. The acquisition not only strengthens Bucher Automotive's position in Europe and enables it to enter the Australian market, but also creates growth potential in North America and Southeast Asia. The purchase price on a debt and cash free basis amounts to CHF 45 million.

In Europe - particularly the U.K. - and Australia, Johnston Sweepers Ltd., Dorking, UK is a major supplier of both compact and truck-mounted sweepers and operates specialized production facilities in the U.K., Denmark, and Australia. Johnston delivers sweeper bodies to Johnston companies in Canada and the U.S. which will become independent before Johnston is acquired by Bucher Automotive. In 2004, the activities now taken over by Bucher realized CHF 190 million in sales and a CHF 5.1 million operating result before divestiture related costs with about 800 employees. As of 31 December 2004 the business transferred to Bucher had net operating assets of approx. CHF 60 million. Johnston's and Bucher Automotive's market positions in Europe, Australia, and North America complement each other. The comprehensive sweeper range of Johnston is ideally completed by the winter servicing and airfield cleaning equipment of Bucher Automotive.

Establishing specialized competence centers will make it possible to benefit from economies of scale as regards product costs. Moreover, the component assembly plant and the procurement platform Bucher Automotive has put into operation in Ventspils (Latvia) in 2004 will gain growing importance. Developing modular sweeper product series will allow for additional production efficiency and purchase cost savings in the coming years.

In Europe, Bucher Automotive's and Johnston's sales organizations will continue to offer their former product ranges in parallel through independent dealers. In countries outside of Europe, they will define the product program most suited to each territory.

The acquisition still needs to be approved by the competent antitrust authorities and the shareholders of Ennstone plc.

Bucher Automotive is a European market leader in the segments of compact and truck-mounted sweepers, winter servicing equipment, and airfield cleaning equipment. In 2004, it registered CHF 283 million in sales employing roughly 800 employees. After the Johnston take-over, Bucher Automotive will become Bucher Industries' second-largest division, posting approximately CHF 470 million in sales with about 1600 employees. Its contribution to group sales will increase from 17% to 25%.

Bucher Industries is a technology group operating worldwide and leading the market in advanced areas of the engineering and automotive industries. Its product offer comprises specialized agricultural machinery, municipal vehicles, wine and fruit juice production plants, hydraulic components, and production equipment for the glass container industry. In 2004, Bucher Industries registered CHF 1.64 billion in sales with roughly 5800 employees. The group is listed on the SWX Swiss Exchange
(SWX: BUC).

Contact
Philip Mosimann, CEO
Roger Baillod, CFO
Phone +41 44 857 22 07