MERGER AGREEMENT

BIESSE CORPORATE, one of the world's leading manufacturers of machinery for the wood, glass and marble industries, and SCHELLING AG, one of the world's leading manufacturers of high-tech panel saws and engineered turn-key systems for the wood, non-ferrous metal and plastics industries, have signed a company merger agreement.

The agreement calls for a total integration between the two companies by means of share exchange on the parts of Mr. W. Deuring (Owner of Schelling) and Biesse S.p.A. based in Pesaro, Italy.

The agreement takes place in a context where both companies, Schell-ing AG and Biesse Group, are vigorously growing and expanding. Deuring will be the Managing Director of the extended Schelling Systems Division in Schwarzach and will be come a member of the Board of Directors for the entire Group.

For more information, contact the companies listed in this article.