Regulatory Filings • Jun 20, 2013
Regulatory Filings
Open in ViewerOpens in native device viewer
News Details
Media | 20 June 2013 13:56
GEA Group Aktiengesellschaft: GEA focuses further on core business and pursues separation from segment GEA Heat Exchangers in medium term
(DGAP-Media / 20.06.2013 / 13:56)
GEA focuses further on core business and pursues separation from segment GEA Heat Exchangers in medium term
Düsseldorf, June 20, 2013 – GEA Group, the Düsseldorf-based mechanical engineering group, focuses with even greater emphasis on its leading position as system provider to the food industry and other technologically sophisticated process industries. The segment GEA Heat Exchangers (‘HX’) is no longer be counted as core business by GEA. GEA has hence decided to separate from this business in the medium term and is reviewing all options for a separation from the HX segment.
This is the outcome of a comprehensive technological and strategic portfolio review launched by GEA last year. The aim of the review was to identify the core business areas which bear the greatest synergy potential. Those businesses are to be systematically further developed and serve as the foundation for the sustained future growth of the GEA Group.
‘Efficient deployment of our human and financial resources is central to GEA’s continued successful development going forward. This means we have to focus as we expand our business,’ said Jürg Oleas, Chairman of the Executive Board of GEA Group Aktiengesellschaft. ‘The in-depth review of all business units has shown that our technologies for the food industry and their deployment in alternative sectors hold very substantial growth potential. Their markets are highly stable and are driven by long-term global megatrends. We therefore plan to sustainably increase the proportion of Group revenue accounted for by food technologies in the medium term to around 70 to 75 percent.’
The HX segment is highly profitable and has a strong market position. There are only limited potential synergies between HX and the other business units in the GEA Group portfolio, however, as their business profiles differ. The scope for Group-wide use of technologies and capabilities is limited. In light of this, GEA firmly believes that the HX business will be able to develop even better within a new ownership structure.
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 2012, GEA generated consolidated revenues in excess of EUR 5.7 billion, 70 percent of which came from the food and energy sectors, which are long-term growth industries. The group employed about 24,500 people worldwide as of March 31, 2013. 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) and the STOXX (R) Europe 600 Index. Further information is available on the Internet at: www.gea.com .
To unsubscribe from GEA Group Aktiengesellschaft’s news distribution list, please send an e-mail to [email protected] .
Contact
GEA Group Aktiengesellschaft
Donat von Müller
Head of Investor Relations and Public Relations
Tel.: +49 211 9136-1492
HERING SCHUPPENER Consulting
Strategieberatung für Kommunikation GmbH
Michael Iltschev
Tel.: +49 (69) 921874-49
Mobil: +49 (151) 1623 1325
End of Media Release
Issuer: GEA Group Aktiengesellschaft
Key word(s): Industry
20.06.2013 Dissemination of a Press Release, transmitted by DGAP – a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and 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: | [email protected] |
| Internet: | www.gea.com |
| ISIN: | DE0006602006 |
| WKN: | 660200 |
| Indices: | MDAX |
| Listed: | Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime Standard), Hamburg, München; Freiverkehr in Hannover, Stuttgart |
| End of News | DGAP-Media |
| - - - |
| 217372 20.06.2013 |
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.