KRONES AG — M&A Activity 2002

Nov 12, 2002

News Details

Ad-hoc | 12 November 2002 20:34

Krones AG english

KRONES acquires holding in the KOSME Group Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– KRONES acquires holding in the KOSME Group Overall position boosted by rounding off in the “just enough” category KRONES AG, Neutraubling, is acquiring a majority holding in the KOSME Group, Austria/Italy, thus purposefully expanding its capabilities for the “lower output range” of bottling, canning and packaging machines for the beverage industry. As a complete-system vendor, KRONES AG is the world’s market leader here in the medium and high-output segment. KOSME’s cost leadership in the “just enough” market, coupled with the potentials opened up by the globally operating KRONES Group, is aimed at ensuring synergised strengths benefiting both of the groups involved. In what is a rapidly expanding global market for first-time users of what are called “just enough” machines and lines, there are abundant opportunities for new business activities. The successful cooperation with KOSME initiated last April will now be strengthened still further by capital interlacing. Under mutual declarations of intent, as from 1 January 2003 KRONES AG will acquire 75 % of the shares in the KOSME Group, Sollenau/Austria. To enable a complete line programme to be offered under the KOSME family brand, the Austrian KOSME GmbH will take a 55 % holding in the Italian KOSME s.r.l.. Together with the subsidiaries Keber and Kosme Filling Systems, a subgroup called “KOSME” is thus being set up for what is called the “just enough” market. The newly formed KOSME Group is on target for around 70 million euros of consolidated sales in 2002. The Austrian part of the company is responsible for developing and producing the linear stretch blow-moulding technology, and for coordinating the entire line programme. By reason of the local cost advantages, KOSME’s product range for labelling, filling, packing and palletising, including conveyors, is developed and produced in Italy. By integrating KOSME, the technological leader KRONES is rounding off its corporate capabilities for the first-time-user market as well, with attractive solutions in what is called the “just enough” market. end of ad-hoc-announcement (c)DGAP 12.11.2002 ——————————————————————————– WKN: 633500; ISIN: DE0006335003; Index: MDAX Listed: Amtlicher Markt in Frankfurt, München; Freiverkehr in Bremen, Düsseldorf, Hamburg, Stuttgart 122034 Nov 02