GEA Group AG

Business and Financial Review • Jun 24, 2009

News Details

Corporate | 24 June 2009 12:00

GEA Group Aktiengesellschaft: GEA to supply heat exchangers for solar thermal power generation

GEA Group Aktiengesellschaft / Contract/Miscellaneous

Announcement, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Bochum/Bilbao, June 24, 2009 - GEA Ibérica, a Spanish subsidiary of GEA
Group has received an order to design, manufacture and supply 7 surface
condensers for new solar thermal power plants in Spain with an aggregate
capacity of 350 MW. Worth about EUR 6 million, the order has been placed by
Siemens Industrial Turbomachinery AB in Finspong/Sweden. The surface
condensers will be manufactured at the GEA Caldemon site in
Santander/Spain. GEA Ibérica, which is part of the Energy and Farm
Technology segment, has acquired the site only recently in order to enhance
its range of production. This factory has been the supplier for surface
condensers to GEA Ibérica before.

'The order rewards our strategic focus on the growing solar thermal power
industry,' says Ramon Rodriguez, Managing Director of GEA Ibérica S.A.
Securing a stable workload for the Santander factory, the order is due for
delivery before the end of 2010. 'To gauge the vast market potential of
this proven technology, consider the recently reported initiative of
several big industrial and utility companies, such as Siemens, Eon and RWE.
They are looking for ways how to turn the Club of Rome's 'Desertec' vision
into reality and to extensively rely on solar thermal energy for future
power generation,' observed Jürg Oleas, CEO of GEA Group.

GEA Ibérica, which is a subsidiary of GEA's Thermal Engineering Division,
has a history of supplying surface condensers to solar thermal power plants
in Europe. Growing future demand is expected especially from North Africa
and the United States. Within the area of renewable power generation, Solar
thermal power plants have the technological advantage that they can
continue to run during the night with heat stored during daylight
operation, enabling solar thermal power plants to contribute to the base
load of grids. Moreover, sunlight as a resource for power generation is
free - not surprisingly, solar thermal power is rising in demand.

GEA Group Aktiengesellschaft is one of the largest pure mechanical
engineering groups in Germany. As an internationally operating technology
group, it concentrates on specialty mechanical engineering with a focus on
process technology and components. Group revenue amounted to EUR 5.2
billion in fiscal year 2008. The group generated about 50 percent of this
revenue from the long-term growing food and beverages industries. As of
March 31, 2009, a workforce of over 21,000 employees served customers in
more than 50 countries. GEA Group is a market and technology leader in 90
percent of its business areas. GEA Group is listed in the MDAX index (G1A,
WKN 660200).

GEA Group Aktiengesellschaft
Corporate Communications
tel. +49-(0)234-980-1081
fax +49-(0)234-980-1087
www.geagroup.com

24.06.2009 Financial News transmitted by DGAP

Language: English
Issuer: GEA Group Aktiengesellschaft
Dorstener Straße 484
44809 Bochum
Deutschland
Phone: +49 (0)234 980-0
Fax: +49 (0)234 980-1004
E-mail: investor.relations@geagroup.com
Internet: www.geagroup.com
ISIN: DE0006602006
WKN: 660200
Indices: MDAX
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
Düsseldorf, Hamburg, München; Freiverkehr in Hannover,
Stuttgart

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