Ad-hoc | 22 September 2009 07:52
GEA Group Aktiengesellschaft / Miscellaneous
22.09.2009
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Bochum/Changshu, September 22, 2009 - The Supervisory Board of GEA Group
Aktiengesellschaft today unanimously approved a proposal of the Executive
Board to simplify the structure of the group with effect from January 1st,
2010.
The businesses of the existing nine divisions, which are reported as two
segments, will be regrouped into five segments without altering the overall
portfolio of the group. These five segments will also be the IFRS reporting
units from 2010 onwards.
The new structure provides a clear alignment of technologies and
applications within the group and comprises the following segments:
* GEA Farm Technologies
* GEA Heat Exchangers
* GEA Mechanical Equipment
* GEA Process Engineering
* GEA Refrigeration Technologies
This change is expected to substantially reduce costs, primarily in
manufacturing, but also in administration and across other functions. As a
key element of the reorganization, all heat exchanger activities -
presently embedded in five different divisions - will be concentrated in
one dedicated segment.
The reorganization - including the already communicated reduction of legal
entities - is expected to generate in the next few years a substantial
double-digit million Euro amount as sustainable savings.
22.09.2009 Financial News transmitted by DGAP
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Language: English
Company: GEA Group Aktiengesellschaft
Dorstener Straße 484
44809 Bochum
Deutschland
Phone: +49 (0)234 980-0
Fax: +49 (0)234 980-1004
E-mail: investor.relations@geagroup.com
Internet: www.geagroup.com
ISIN: DE0006602006
WKN: 660200
Indices: MDAX
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
Düsseldorf, München, Hamburg; Freiverkehr in Hannover,
Stuttgart
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