DGAP-News: WashTec AG: WashTec signed agreement to acquire the assets of Barin S.A.'s carwash division and used the opportunity to substantially increase its market presence in Spain
(firmenpresse) - DGAP-News: WashTec AG / Key word(s): Miscellaneous
WashTec AG: WashTec signed agreement to acquire the assets of Barin
S.A.'s carwash division and used the opportunity to substantially
increase its market presence in Spain
28.04.2011 / 15:36
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Press release
WashTec signed agreement to acquire the assets of Barin S.A.'s carwash
division and used the opportunity to substantially increase its market
presence in Spain.
Augsburg, April 28, 2011 - WashTec, the leading supplier of innovative
solutions for the carwash business worldwide, today announced that it has
signed an agreement to acquire the major assets of the carwash division of
Barin S.A., the former dealer of Ceccato and second biggest market player
in Spain. A purchase price of about EUR 0.6m was agreed between the
parties, which covers the customer base, some inventories and important
employees. The closing of the agreement is subject to the approval of the
competent insolvency court in Madrid. The court's decision is expected
within the coming weeks.
Due to the difficult market situation in Spain, Barin has run into
financial difficulties and had to declare insolvency in 2010. WashTec has
therefore decided to use the opportunity to offer Barin's management to
integrate the carwash activities of Barin into WashTec's sales and service
subsidiary in Spain. 'It is our objective to strengthen WashTec's market
position in Spain in a difficult economic environment. With this step,
WashTec becomes the second biggest player in Spain,' said Thorsten Krüger,
the CEO of WashTec AG.
About WashTec:
The WashTec Group, with its headquarters in Augsburg, Germany, is the
leading supplier of innovative solutions for the carwash business
worldwide. WashTec employs more than 1,600 people around the world and has
its own subsidiaries in the European core markets, the US and Canada as
well as in China and Australia. Furthermore, WashTec is represented in
around 60 countries by independent sales partners.
Contact:
WashTec AG
Argonstrasse 7
86153 Augsburg
Tel.: +49 (0)821 - 55 84 - 0
Fax: +49 (0)821 - 55 84 - 1135
End of Corporate News
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28.04.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: WashTec AG
Argonstraße 7
86153 Augsburg
Deutschland
Phone: +49 (0)821 55 84-0
Fax: +49 (0)821 55 84-1135
E-mail: washtec(at)washtec.de
Internet: www.washtec.de
ISIN: DE0007507501WKN: 750750
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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121927 28.04.2011
Datum: 28.04.2011 - 15:36 Uhr
Sprache: Deutsch
News-ID 33893
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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