KRONES AG - M&A Activity 2016 | FinancialReports.eu

News Details

Corporate | 31 August 2016 18:46

Krones AG: Krones acquires Trans-Market to strengthen process technology footprint in the US

DGAP-News: Krones AG / Key word(s): Investment

2016-08-31 / 18:46

The issuer is solely responsible for the content of this announcement.

Corporate news release

31 August 2016

Krones acquires Trans-Market to strengthen process technology footprint in the US

Krones, a leading manufacturer of filling and packaging technology, has signed and completed the purchase of 80 % of the business of Trans-Market Sales & Equipment Inc. Trans-Market is based in Tampa, Florida and is a proven leader in providing process engineering and automation solutions for the liquid food industry. The company has revenues of approximately $30 million and has a workforce of more than 50 employees.

The previous owners of Trans-Market will retain a 20% ownership. Krones is financing the acquisition with available funds.

This acquisition is a further step in the implementation of the Krones strategy to build-up local engineering and sourcing capabilities. By acquiring Trans-Market, Krones enhances its process technology capabilities in the US and expands its geographical footprint in North America. Besides Tampa, Florida, Trans-Market operates two locations in Texas. Together with the capabilities of Trans-Market Krones can offer its customers in the liquid food segment in North America the complete product portfolio ranging from process technology solutions, filling and packing equipment to logistical solutions, and thereby cover the entire plant of its customers.

Trans-Market will be part of the “Machines and Lines for beverage production/Process Technology” Segment. The headquarters and management of Trans-Market will remain in Tampa, Florida.

Contact:

Olaf Scholz

Head of Investor Relations, KRONES AG

Phone: +49 9401 70-1169

E-mail: [email protected]

2016-08-31 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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Language:	English
Company:	Krones AG
	Böhmerwaldstraße 5
	93073 Neutraubling
	Germany
Phone:	+49 (0)9401 701169
Fax:	+49 (0)9401 709 1 1169
E-mail:	[email protected]
Internet:	www.krones.com
ISIN:	DE0006335003
WKN:	633500
Indices:	MDAX
Listed:	Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange