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8.11 Participations in group companies

In the 2017 financial year, a share capital reduction in the amount of CHF 2,499,000 was undertaken in relation to the shareholding in Orell Füssli Buchhandlungs Ltd. Owing to the current results of the Industrial Systems segment, the investment in Atlantic Zeiser GmbH was impaired in the amount of CHF 7,483,000.