M&A Activity • Jul 29, 2008
M&A Activity
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Corporate | 29 July 2008 09:00
AURELIUS sells KWE Group to Austrian Kresta Group
AURELIUS AG / Disposal
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.
• Sale of KWE Stahl- und Industriebau GmbH & Co KG to strategic investor
• High potential for synergies for KWE as well as for buyer Kresta
• Business model of AURELIUS Group successfully demonstrated
Munich, July 28, 2008 - AURELIUS AG has sold its portfolio company KWE
Stahl- und Industriebau GmbH & Co. KG including its wholly owned subsidiary
KWE Ludwigshafen GmbH to Kresta Group, St. Andrä (Austia). As steel and
plant construction company Kresta is a specialist in tank, steel and
pipeline constructions.
KWE - headquartered in Wesseling (Cologne) - is one of the leading German
steel construction service providers for the Chemicals industry, mainly
serving its clients on-site with plant construction and maintenance
engineering services for structural steel works. In 2007, KWE generated
sales of approximately EUR 26 million and currently employs approximately
110 staff at 12 operating sites all over Germany. After the successful
completion of operational restructuring measures led by AURELIUS since 2006
the course is set for a successful development of KWE.
Gert Purkert, Member of the Managing Board of AURELIUS AG, is pleased with
the outcome of the selling process: 'After the successful completion of the
realignment, we decided to accept an offer from a strategic partner, who
will expand business further.'
The integration of the service business and established customer base of
KWE into Kresta Group’s steel project activities will be an advantage
particularly for customers and employees of KWE as well. Franz Kreutzer,
General Manager and founder of Kresta, is convinced: 'This will provide
further cross-selling and sales increase potentials for both KWE and for
us. Our profound experience in the project business will offer new
possibilities to KWE. The acquisition will be of great benefit for both
companies.'
Through the acquisition of KWE, Kresta will further strengthen its product
portfolio in the area of service business and will get access to customers
from the Chemicals industry. Targeting existing markets and customers with
complementary pipeline construction services will enhance further growth of
KWE.
For further information on AURELIUS please contact:
Ingo Middelmenne
Investor Relations & Corporate Communications
Phone +49 (89) 544799 - 56
Fax +49 (89) 544799 - 55
[email protected]
About AURELIUS AG
Munich-based AURELIUS AG acquires medium-sized companies and subsidiaries,
which no longer conform to the core business of its previous owner.
AURELIUS also buys companies in case of initially complex structures and
actively develops them. With a specialized task force it fully taps the
potentials for value added in its subsidiaries for the benefit of all
parties involved, always keeping in mind the social responsibility aligned.
The shares of AURELIUS AG are listed in the Open Market of Frankfurt Stock
Exchange (ISIN: DE000A0JK2A8).
About Kresta Anlagenbau
For years Kresta Anlagenbau is experienced in industry plant construction.
The company was founded in 1986 by Franz Kreuzer, who acts as managing
director since then. The Kresta team carried out numerous mayor client
projects all over the world. In fiscal year 2007 the Group generated sales
of EUR 150 million with about 400 employees. From Engineering, over
manufacturing, assembly, insulation, and start up, Kresta offers its
customers services from one source.
29.07.2008 Financial News transmitted by DGAP
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