DGAP-News: GEA Group Aktiengesellschaft: GEA divests production of packaging materials
(firmenpresse) - DGAP-News: GEA Group Aktiengesellschaft / Key word(s): Disposal
GEA Group Aktiengesellschaft: GEA divests production of packaging
materials
30.09.2011 / 10:00
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Düsseldorf, September 30, 2011 - GEA Group sold CFS Kempten GmbH, in
Kempten, Germany, to Conflex Packaging GmbH. The company makes packaging
materials for the food industry. It had been part of the CFS Group which
GEA acquired in March 2011. CFS Kempten realized revenues of EUR 45 million
during the prior fiscal year (ending Feb 2011) and currently employs 190
people. Consummation of the transaction remains subject, among other
things, to the approval of the anti-trust authorities.
'Packaging materials surely are a complement to the packaging machines sold
by GEA, but we felt that we can still offer those materials as an ancillary
product to the customer of our machines without having to own and run its
production ourselves. CFS Kempten would have needed to grow significantly
to meet our expectation that companies in our portfolio take a leading
market position in their respective industry. Under new ownership focus,
they will benefit from more favorable prospects for continued capital
investments in this firm. For our customers the transaction will make no
difference. As to the employees of CFS Kempten, I wish to thank them for
their dedicated work', explained Juerg Oleas, CEO of GEA Group.
About GEA Group
GEA Group Aktiengesellschaft is one of the largest suppliers of process
technology and components for the food and energy industries. As an
international technology group, the Company focuses on sophisticated
production processes. In 2010, GEA generated consolidated revenues in
excess of EUR 4.4 billion, 70 percent of which came from the food and
energy sectors, which are long-term growth industries. The group employed
about 23,000 people worldwide as of June 30, 2011. GEA Group is a market
and technology leader in its business areas. It is listed in Germany's MDAX
stock index (G1A, WKN 660 200). Further information is available on the
Internet at: www.geagroup.com.
To unsubscribe from GEA Group Aktiengesellschaft's news distribution list,
please send an e-mail to pr(at)geagroup.com or call us on +49-211-9136-1492.
Contact:
GEA Group Aktiengesellschaft
Phone +49 (0)211 9136 1492
Fax +49 (0)211 9136 31492
www.geagroup.com
End of Corporate News
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Language: English
Company: GEA Group Aktiengesellschaft
Peter-Müller-Straße 12
40468 Düsseldorf
Germany
Phone: +49 (0)211 9136-0
Fax: +49 (0)211 9136-31087
E-mail: ir(at)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 News-Service
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Datum: 30.09.2011 - 10:00 Uhr
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