DMG MORI AG

M&A Activity • Jul 12, 2002

News Details

Corporate | 12 July 2002 20:39

Gildemeister AG english

GILDEMEISTER and ThyssenKrupp to consider pooling machine tools Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Technologies and world-wide market presence complement each other well GILDEMEISTER and ThyssenKrupp to consider pooling machine tools Bielefeld. GILDEMEISTER Aktiengesellschaft, Bielefeld, and ThyssenKrupp Technologies AG, Essen, are to look at combining their activities in the field of metal-cutting machine tools. Representatives of GILDEMEISTER and ThyssenKrupp have agreed to examine a pooling of activities and initiate further steps. A tie-up with ThyssenKrupp’s machine tool business would give GILDEMEISTER sales of around Euro 1.8 billion and further strengthen its position in the machine tool sector. Both sides assume that ThyssenKrupp would become the largest single shareholder in GILDEMEISTER, without targeting control of the company. An analysis of the activities of the two companies by products, customers and geographical regions shows that GILDEMEISTER and ThyssenKrupp Metal Cutting are a good fit. The product ranges of the two companies show virtually no overlaps on the market side. ThyssenKrupp Metal Cutting’s strength is in systems business, while GILDEMEISTER is a leader in standardized machines. The deal would strengthen GILDEMEISTER particularly in North America and on important European markets, and together the two companies could increase their presence in Asia. GILDEMEISTER and ThyssenKrupp Metal Cutting together could offer a full range of products from standard machines to systems solutions on a worldwide basis. The aims would be to expand technology leadership, develop new customer segments, particularly in the auto industry, and strengthen service-based business. The pooling of activities would hold potential for cost reductions in purchasing, productivity improvements, and synergies in sales and marketing as well as research and development. We believe the combination of GILDEMEISTER and ThyssenKrupp Metal Cutting would represent an attractive move from the point of view of the capital market. GILDEMEISTER Aktiengesellschaft The Executive Board end of message, (c)DGAP 12.07.2002 ——————————————————————————– WKN: 587800; ISIN: DE0005878003; Index: MDAX Listed: Amtlicher Markt in Berlin, Düsseldorf und Frankfurt; Freiverkehr in Hamburg, München und Stuttgart 122039 Jul 02