Ad-hoc release / Press Release

Airopack acquires manufacturer of Airofiller equipment and secures additional funding

Waalwijk, 9 February 2018 - Airopack Technology Group AG ("Airopack"), manufacturer of the Planet Friendly Aerosol, is pleased to announce the acquisition of Scholle IPN Equipment B.V. ("SIPN Equipment"), the Airopack production partner for its full range of filling equipment ("Airofiller"). Airopack has also secured additional debt and lease facilities from Rabobank to fund the acquisition of SIPN Equipment and for capacity growth purposes.

On 8 February 2018, Airopack closed the acquisition of all shares in SIPN Equipment from Scholle IPN. SIPN Equipment is the Airopack production partner for Airofiller filling equipment (www.airofiller.com) and will become a fully dedicated Airofiller equipment manufacturer. Airofiller provides bespoke on-site Airopack filling solutions for both Airopack clients and contract fillers.

With this acquisition Airopack will secure production capacity required to meet strong customer demand for Airofiller filling equipment resulting from the growing demand for the Airopack Planet Friendly Aerosol. SIPN Equipment has a production site in Houten, the Netherlands, with 23 employees and will be renamed to Airofiller Equipment Solutions B.V. The acquisition price is not disclosed.

Scholle IPN will continue and intensify its manufacturing, supply and service of (aseptic) filling, sealing and testing equipment for its bag-in-box and pouch packaging clients through its affiliated equipment company Bossar located in Barcelona, Spain and Pune, India and its equipment plant in Schalbach, France and Northlake, USA.

Funding of the SIPN Equipment acquisition and related working capital needs, as well as further growth of the Airopack business has been secured by a combination of EUR 15 million debt facilities and a EUR 30 million revolving lease facility provided by Rabobank. This revolving lease facility includes the existing lease financing with Rabobank and provides Airopack additional headroom for investments in machinery and equipment.

Quint Kelders, Chief Executive Officer, commented: "We are very pleased with the acquisition of SIPN Equipment that enables us to supply Airofiller filling equipment to all our current and future clients. We are also very proud to announce the additional financing facilities provided by Rabobank that will broaden our funding base. To have a leading Dutch bank on board in the current phase of our company creates a solid foundation for the future. Our production capacity expansion to 200 million pieces annually over the course of this year is well on track and we expect to sign supply agreements with multiple new EU and US based global customers in the personal and home care markets in the near future."

Airopack produces a safe, all-plastic pressurized Planet Friendly Aerosol powered purely by air that is environment and planet friendly. It was developed by Airopack Technology Group, which holds the relevant patents and is worldwide the sole producer of this unique Planet Friendly Aerosol. Airopack has a worldwide customer base including multiple AAA leading personal care brands.

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For more information:

For investors:

Airopack Technology Group AG
Quint Kelders, CEO / Liebwin van Lil, CFO

E: quint.kelders@airopackgroup.com
E: liebwin.vanlil@airopackgroup.com

T: +31 (0)416 300 800

For media:

Hill + Knowlton Strategies
Charlotte de la Rambelje - de Voogd

E: charlotte.rambelje@hkstrategies.com
T: +31 (0)20 404 4707