Media | 20 December 2010 13:39
GEA Group Aktiengesellschaft / Key word(s): Enterprise/
GEA Group Aktiengesellschaft: GEA to acquire Bock Kältemaschinen,
Germany
20.12.2010 / 13:39
Bochum, December 20, 2010 - GEA Refrigeration Technologies, a segment of
the GEA Group, today announced the acquisition of Bock
Kältemaschinentechnik GmbH in Frickenhausen (near Stuttgart in Germany), a
leading supplier of open and semi-hermetic piston compressors for
stationary and transport-related cooling applications. Bock's products are
a perfect complement to GEA's product portfolio in the lower and medium
refrigeration capacity range. The Bock Group has some 340 employees and
expects a turnover of a little less than EUR 70 m in FY 2010. Besides the
main factory and headquarter in Frickenhausen, Bock has smaller assembly
sites at its subsidiaries in the Czech Republic, India and China and sales
offices in Singapore, Thailand, Malaysia and Australia. Bock sells about
half of its products Europe, about a third Asia-Pacific and the remainder
in North- and Latin America, as well as Africa. Among typical end customers
of Bock compressors are the leading branded producers of food and beverages
as well as some of the largest food retail chains.
'Strategically, Bock fits very well to GEA Refrigeration Technologies'
Juerg Oleas, CEO of Gea Group commented. 'Bock instantaneously gives us
access to a much wider range of cooling applications and they also enhance
our know how with regard to environmentally friendly solutions based on
natural refrigerants for which the market shows rising demand.' Niels
Graugaard, COO of GEA's process technology businesses, showed himself
confident about the opportunities arising from the addition of Bock's high
quality products: 'Together with Bock, GEA Refrigeration Technologies
should be able to develop some interesting growth potentials across the
globe.'
The transaction will be financed entirely through Gea group's existing
credit facilities. The transaction remains subject to approval by the
anti-trust authorities.
GEA Group Aktiengesellschaft is one of the largest system providers for
food and energy processes with about EUR 4.4 billion in 2009 revenue. As an
internationally operating technology group, the company focuses on process
technology and components for demanding production processes in various end
markets. The group gains about 70 percent of its revenue in the long-term
growing food and energy industries. The company's workforce comprised over
20,000 employees worldwide as of June 30, 2010. GEA Group is a market and
technology leader in its business areas. The company is listed in the MDAX
index (G1A, WKN 660200).
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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: ir@geagroup.com
Internet: www.geagroup.com
ISIN: DE0006602006
WKN: 660200
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, München; Freiverkehr in Hannover,
Stuttgart
End of News DGAP-Media
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