GEA Group Aktiengesellschaft, DE0006602006

GEA Group Aktiengesellschaft, DE0006602006

15.11.2017 - 09:04:00

GEA Group Aktiengesellschaft: GEA acquires specialist for filling lines in Slovenia

GEA acquires specialist for filling lines in Slovenia

Düsseldorf (Germany), November 15, 2017 - GEA, one of the largest equipment and solutions supplier for the food processing industry, has signed an agreement to acquire VIPOLL, a family owned manufacturer of filling technologies for carbonated soft drinks, beer and fresh milk products. The acquisition strengthens GEA's market position as a total solutions provider in the beverage processing industry. It adds competence in filling of especially glass bottles and cans, as well as pet bottles for non-sensitive products. VIPOLL is based in Kri?evci pri Ljutomeru, Slovenia and employs more than 100 employees. In 2016, it generated sales of approximately EUR 20 million. Both companies have agreed to keep the purchase price confidential. Completion of the transaction is expected by the end of 2017. The transaction is still subject to approval by the antitrust authorities. "The acquisition of VIPOLL broadens GEA's solutions portfolio for the beverage industry. The complementarity to our products provides an excellent opportunity to fill a white spot. This will support our position as a leading global supplier of complete solutions for the beverage industry. In respect of shareholder value, we rated this acquisition as more EPS-accretive than alternative capital allocations", explained Jürg Oleas, CEO of GEA Group Aktiengesellschaft. VIPOLL adds innovative filling and bottling equipment, container conveyors and comprehensive engineering solutions for low and mid speed lines to GEA's downstream process chain competencies. VIPOLL's customers are mainly in Europe which should lead to sales synergies from marketing its technology globally and increasing the share of services through GEA's existing sales & service network.

 

Corporate media and press: GEA Group Aktiengesellschaft Marc Pönitz Peter-Müller-Str. 12, 40468 Düsseldorf, Germany Phone +49 211 9136-1500 marc.poenitz@gea.com  

About GEA GEA is one of the largest suppliers for the food processing industry and a wide range of other industries that generated consolidated revenues of approximately EUR 4.5 billion in 2016. The international technology group focuses on process technology and components for sophisticated production processes in various end-user markets. The group generates around 70 percent of its revenue in the food and beverages sector that enjoys long-term sustainable growth. As of September 30, 2017, the company employed about 17,000 people worldwide. GEA is a market and technology leader in its business areas. The company is listed on the German MDAX (G1A, WKN 660 200). In addition, GEA's stock is included in the MSCI Global Sustainability Indexes. Further information is available on the Internet at gea.com.

Contact: GEA Group Aktiengesellschaft Phone +49 (0)211 9136 1492 Fax +49 (0)211 9136 31087 gea.com

15.11.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

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@gea.com Internet: www.gea.com ISIN: DE0006602006 WKN: 660200 Indices: MDAX Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich; Regulated Unofficial Market in Hanover, Stuttgart, Tradegate Exchange   End of News DGAP News Service

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@ dgap.de

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