KHD begins restructuring process, Germany

KHD begins restructuring process, Germany
Published: 31 March 2010

KHD Humboldt Wedag International Ltd said Tuesday it has made the first step in restructuring the company into two distinct entities.

Bloomberg reported that the company’s shareholders approved the first tranche distribution of shares of KHD Humboldt Wedag International AG, or KID.

KHD plans to eventually restructure into KID, an industrial plant technology equipment and service company and Terra Nova Royalty Corp., a mineral royalty company.

Terra Nova will continue to be listed on the New York Stock Exchange under the trading symbol "TTT" while KID will be listed on the Frankfurt Stock Exchange with the trading symbol "KWG.