R. STAHL increases its stake in South African distribution partner ESACO Ltd and takes over majority
PRESS RELEASE R. STAHL increases its stake in South African distribution partner ESACO (Pty.) Ltd and takes over majority
Waldenburg/Edenvale, 7 August 2019 - R. STAHL, leading supplier of products and systems for explosion protection, has increased its stake in the South African distribution specialist for explosion protected devices, ESACO (Pty.) Ltd, Edenvale, by another 35% to a total of 70%. With the takeover of the majority, R. STAHL goes the next step in exploiting the African region's attractive growth potential even better.
"ESACO and R. STAHL join decades of successful collaboration which triggered our decision to take a first stake in our partner three years ago. The takeover of the majority now follows our strategic goal to further grow our business on the African continent and ideally combines our leading portfolio with ESACO's well established market position", said Dr. Mathias Hallmann, CEO of R. STAHL.
R. STAHL acquired a first 35% stake in ESACO, an owner-managed company headquartered in Linbro Park near Sandton/ Johannesburg, in 2016. ESACO was founded in 1975 and distributes R. STAHL's products since then. In 2018, the ISO 9001 certified company generated annual sales equaling EUR1.6 million. The purchase price of the now acquired further stake of 35% is equivalent to EUR0.9 million. Signing and payment of this transaction were already done in July 2019.
Contact R. STAHL AG Am Bahnhof 30, 74638 Waldenburg (Württ.) Dr. Thomas Kornek Head of Investor Relations & Corporate Communications T: +49 7942 943-1395 E : firstname.lastname@example.org
About R. STAHL - www.r-stahl.com R. STAHL is the world's leading supplier of electrical and electronic products and systems for explosion protection. These products and systems prevent explosions in hazardous areas and contribute to the safety of people, machines and the environment. The portfolio ranges from products used in switching/distributing, installing, operating/monitoring, lighting and signalling/alarming up to automation. Typical customers are the oil & gas industry, the chemical and pharmaceutical industry and the food industry. In 2018, global sales amounting to about EUR 280 million were generated by 1,690 employees. The shares of R. STAHL AG are traded on the Regulated Market/Prime Standard of Deutsche Boerse (ISIN DE000A1PHBB5).
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07.08.2019 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.deLanguage: English Company: R. Stahl AG Am Bahnhof 30 74638 Waldenburg
Germany Phone: +49 (7942) 943-0 Fax: +49 (7942) 943-4333 E-mail: email@example.com Internet: www.r-stahl.com ISIN: DE000A1PHBB5 WKN: A1PHBB Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange EQS News ID: 853909 End of News DGAP News Service