GEA Group AG

M&A Activity • Jan 19, 2009

News Details

Corporate | 19 January 2009 11:15

GEA strengthens position in the freezing business

GEA Group Aktiengesellschaft / Miscellaneous/Miscellaneous

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Bochum/‘s-Hertogenbosch, January 19, 2009 –
GEA Group Aktiengesellschaft has further strengthened its Refrigeration
Division through the acquisition of Eurotek Engineering Ltd, a leading
engineering company in the food freezing equipment business headquartered
in Norwich, United Kingdom. In 2007, Eurotek generated sales of
approximately EUR 8 million with a workforce of 21 employees. The
acquisition took effect on January 16, 2009.

The acquisition of Eurotek substantiates GEA’s strategy to acquire
companies which complement GEA’s technological or geographical product
offering. In particular, cooling and freezing technology for the food
industry are key growth areas within GEA Refrigeration. While GEA acquired
Aerofreeze (Canada) in 2007 and developed Aerofreeze Europe (France) in
2008, the acquisition of Eurotek will ideally complement GEA’s freezing
business in Europe and enables realization of further identified growth and
synergies.

The main activities of Eurotek include the design, engineering,
installation and after sales service of industrial freezers consisting of
Spiral Freezers, Tunnel Freezers and Carton Freezers. Purpose of these
freezers is the cooling, chilling or freezing of food and other products in
a continuous process in an industrial environment. The company’s products
are used across the food industry in all sectors such as dairy, seafood,
meat/poultry, bakery and prepared meals. The company has an established
reputation in Europe and is also serving markets in the Middle East and in
Asia.

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.

The 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).
19.01.2009 Financial News transmitted by DGAP

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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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