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OFFERING MEMORANDUM Oberhausen, Ger
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Forward-looking Information This Of
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account of a QIB, whom the seller h
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Nordex AG Oberhausen, Germany Offer
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Table of Contents Notice to New Ham
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Financial Information. . . . . . .
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Summary of the Offering Memorandum
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Management Board of Nordex AG and t
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Selected Financial Data of the Nord
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Shareholders. In each case, the cos
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Code - will be held under a separat
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Capitalization The following table
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organizational structures to meet t
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condition, results of operations an
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Risks Inherent in the Market and Co
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In addition, there is a risk that p
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Shareholders’ Meeting of Nordex A
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Nordex AG believes that generating
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The US provides federal support for
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Business Introduction and Overview
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manufacturers, customers and suppli
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The following table illustrates the
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According to the provisional figure
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Vestas Wind Systems A/S and Bonus E
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Strategy Nordex’s overall strateg
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The following figure illustrates th
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due to their various sizes and nomi
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The maximum weekly production capac
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The Company’s marketing is mainly
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total value of its requirement for
- Page 61 and 62: Intellectual Property Rights Patent
- Page 63 and 64: Since it ceased being a member of t
- Page 65 and 66: The following table provides an ove
- Page 67 and 68: accept and pay for the rotor blades
- Page 69 and 70: Before construction of the wind par
- Page 71 and 72: Relationships with Principal Shareh
- Page 73 and 74: Agreements with Associated Companie
- Page 75 and 76: interests it held with a total nomi
- Page 77 and 78: underwriting syndicate lead-managed
- Page 79 and 80: Earnings per Share The following ta
- Page 81 and 82: Auditor for the Subsidiaries The fi
- Page 83 and 84: Capital stock: EUR 25 thousand Rese
- Page 85 and 86: Executive Bodies of the Company, Em
- Page 87 and 88: The Company has not granted any loa
- Page 89 and 90: Automotive-Gruppe were, from 1993,
- Page 91 and 92: two comprises the managing director
- Page 93 and 94: Management’s Discussion and Analy
- Page 95 and 96: Comparison of Fiscal Years 1999/200
- Page 97 and 98: was due primarily to the Company in
- Page 99 and 100: In total, the average pro forma inc
- Page 101 and 102: EUR 3.40 million as of September 30
- Page 103 and 104: with terms of between two and five
- Page 105 and 106: Liquidity Cash flow from operations
- Page 107 and 108: corporation income tax a special ta
- Page 109 and 110: or a refund of the amount by which
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- Page 115 and 116: Assets (Combined) pro forma CONSOLI
- Page 117 and 118: (Combined) pro forma CONSOLIDATED I
- Page 119 and 120: (Combined) pro forma STATEMENTS OF
- Page 121 and 122: were eliminated from net incomes an
- Page 123 and 124: In the years under review, the cons
- Page 125 and 126: Since Taifun AG will not commence w
- Page 127 and 128: The calculation of imputed taxes, t
- Page 129 and 130: (5.2) Inventories 9-30-2000 E13,903
- Page 131 and 132: (5.6) Equity 9-30-2000 E16,013,985.
- Page 133 and 134: (5.10) Deferred income 9-30-2000 E1
- Page 135 and 136: (6.7) Amortization/depreciation 199
- Page 137 and 138: A detailed breakdown of income taxe
- Page 139 and 140: Primary segment report The Wind Ene
- Page 141 and 142: F-29 (Combined) fixed-asset analysi
- Page 143 and 144: F-31 (Combined) fixed-asset analysi
- Page 145 and 146: alances (receivables, payables, inc
- Page 147 and 148: MANAGEMENT REPORT FOR THE ABBREVIAT
- Page 149 and 150: ANNUAL FINANCIAL STATEMENTS FOR THE
- Page 151 and 152: Group affiliation TAIFUN AG as well
- Page 153 and 154: Assets Pro forma CONSOLIDATED BALAN
- Page 155 and 156: Pro forma CONSOLIDATED INCOME STATE
- Page 157 and 158: Pro forma STATEMENT OF CHANGES IN E
- Page 159 and 160: The restatements made to reconcile
- Page 161 and 162: (3) Consolidation procedures Accord
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(5.2) Inventories 12-31-2000 E 38,0
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(5.7) Future payables under l/t con
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(6.5) Other operating expenses Firs
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Primary segment report The Wind Ene
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F-59 Combined fixed asset analysis
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INDEPENDENT AUDITOR’S CERTIFICATE
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Owing to the accounting system havi
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Research and development Certificat
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ANNUAL FINANCIAL STATEMENTS FOR THE
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ANNUAL ACCOUNTS FOR THE FISCAL YEAR
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(6) Liabilities Remaining term 1 ye
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Shareholdings Interest held Equity
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AUDITOR’S OPINION We audited the
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Recent Developments and Outlook Dur
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Glossary Alternative energy sources
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Medium voltage A type of voltage. T
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Stall-regulated wind turbine Stall-
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On the basis of the above Company R
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SUMMARY OF CERTAIN DIFFERENCES AMON
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the accrued interest of the present
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ecognise foreign currency gain or l
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UNDERWRITING AND SALE Dresdner Klei