GEA Group AG

M&A Activity • Feb 3, 2009

News Details

Corporate | 3 February 2009 15:05

GEA Group AG: GEA continues to extend food freezing business

GEA Group Aktiengesellschaft / Acquisition

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.

---

Bochum/‘s-Hertogenbosch, February 3, 2009 – GEA Group Aktiengesellschaft
acquires the second company in 2009 within its Refrigeration Division by
taking over Intec USA, a leading supplier of carton freezing and chilling
systems headquartered in Durham, North Carolina, USA. In 2008, Intec
generated sales of approximately EUR 8 million with a workforce of about 20
employees. The acquisition took effect on January 30, 2009.

The acquisition of Intec emphasizes the strategy of GEA Group to acquire
companies which complement GEA’s technological or geographical product
portfolio. Cooling and freezing technology for the food industry are
important growth areas within GEA´s Refrigeration Division. After acquiring
Aerofreeze (Canada) in 2007 and developing Aerofreeze Europe (France) in
2008, GEA’s Refrigeration Division ensures further growth in this segment
with the acquisition of Eurotek (UK) and now Intec USA in January 2009.

The newly acquired company with its carton freezer product line and
technology ideally complements the spiral and tunnel freezers of Aerofreeze
in North America, Europe, South America and Middle East. Because of the
high demand for food safety and corresponding quality standards, carton
freezers have become the standard technology for freezing boxes worldwide.
Purpose of these freezers is the cooling, chilling and freezing of food
products in a continuous process in an industrial environment. The
company’s products are used across the food industry in all sectors such as
meat and poultry, vegetables, cheese and ice cream industries. Intec USA is
among the leading companies in its field in North America and is expanding
in South America and the Middle East.

GEA Refrigeration is one of the leading companies in the area of industrial
refrigeration. The companies of GEA Refrigeration design, engineer, install
and maintain innovative refrigeration components and systems for the food
and beverage industry, for food storage and distribution as well as for the
oil, gas and chemical industries. Its companies focus on quality,
reliability and total cost of ownership for customers for whom industrial
refrigeration is an essential part of their primary process. GEA
Refrigeration employs approximately 3,800 people in more than 45 companies
worldwide.

GEA Group Aktiengesellschaft is Germany's largest listed mechanical
engineering group. As an international technology group, the company
concentrates on specialty mechanical engineering, with a focus on process
technology and components. Consolidated sales amounted to EUR 5.2 billion
in 2007, when the group generated over 50 percent of its sales in the
high-growth food processing and beverages industries. As of September 30,
2008, the company's workforce comprised over 21,000 employees, based in 50
countries. The GEA Group ranks as a market and technology leader in 90
percent of its business areas and is listed on the German MDAX share index
(G1A, WKN 660200).
03.02.2009 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

End of News DGAP News-Service

---