M&A Activity • Sep 9, 2011
M&A Activity
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Corporate | 9 September 2011 11:30
Funkwerk AG sells Alpha Meß-Steuer-Regeltechnik GmbH
Funkwerk AG / Key word(s): Disposal
09.09.2011 / 11:30
PRESS RELEASE
Funkwerk AG sells Alpha Meß-Steuer-Regeltechnik GmbH
Key step to focus on core business
Kölleda, September 09, 2011 – Funkwerk AG has sold 100% of its interest in subsidiary Alpha Meß-Steuer-Regeltechnik GmbH (Alpha GmbH), Neustadt an der Weinstraße, to Bilfinger Berger Industrial Services GmbH (BIS Group), Munich. The purchase contract was signed today. Details of the price have not been disclosed.
Funkwerk specialises in solution-oriented information and communication systems for applications in transport and traffic, security and vehicles. The sale enables the company to take a key step in the implementation of its strategic reorientation, which aims to put the focus on core operating areas. In its three core segments, Traffic & Control Communication (TCC), Security Communication (SC) and Automotive Communication (AC), the Funkwerk group, which generated sales of around EUR 211m in 2010 employing an average of 1,372 people, will in future concentrate on growth fields with strong margins and shed peripheral activities. At the same time, the sale will strengthen the financial basis of Funkwerk AG.
Alpha GmbH deals in control systems for energy providers and the process industry, e.g. to manage and monitor natural gas supply facilities. This means the company, which attained sales of around EUR 17m with some 120 employees in 2010, is not part of the core business of Funkwerk’s Traffic & Control Communication (TCC) segment, which is consistently organised around train and rail traffic as part of the group’s focusing strategy.
Bilfinger Berger Industrial Services is a subsidiary of Bilfinger Berger SE, Mannheim, and one of the world’s leading suppliers of industrial services with focus on the process and energy industry. In 2010, the company generated revenues of EUR 2.9m employing a workforce of 28,000. The BIS Group is set to integrate Alpha GmbH into its subsidiary, BIS E.M.S. GmbH, Cloppenburg, which focuses on engineering and maintenance services for the gas market.
The transfer of Alpha GmbH to the BIS Group is as yet subject to several standard conditions precedent. Funkwerk expects these conditions precedent to occur before the end of the current financial year.
For further information contact:
Funkwerk AG
Im Funkwerk 5
99625 Kölleda/Thuringia
Germany
Jörg Reichenbach
Investor Relations
Phone: 0 36 35/6 00 -3 46
Fax: 0 36 35/6 00 -5 07
End of Corporate News
09.09.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG.
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| Language: | English |
| Company: | Funkwerk AG |
| Im Funkwerk 5 | |
| 99625 Kölleda | |
| Germany | |
| Phone: | +49 (0)3635 600 0 |
| Fax: | +49 (0)3635 600 507 |
| E-mail: | [email protected] |
| Internet: | www.funkwerk.com |
| ISIN: | DE0005753149 |
| WKN: | 575314 |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart |
| End of News | DGAP News-Service |
| - - - |
| 138793 09.09.2011 |
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