Agreement with Repkon Machine and Tool Industry & Trade Inc.

Repkon Machine and Tool Industry & Trade Inc. and Schlatter Industries AG have signed an agreement on July 14th, 2010 through which Repkon has acquired the entire program of wheel (butt) welding for passenger car, light and heavy commercial vehicle - including truck, bus and agricultural - wheel rims from Schlatter. Consequently, the state-of-the-art welding technology developed by Schlatter, still diligently used by world’s most successful wheel manufacturers, will now be incorporated into the complete wheel production lines offered by Repkon. Repkon will immediately start manufacturing the various models within the framework of this acquisition, while Schlatter will continue to supply, on an OEM basis, certain core components such as the welding processors, transformators and diodes, as required by Repkon.