AI assistant
KRONES AG M&A Activity 2018
251_rns_2018-09-17_076bb325-32b6-4032-958b-1053342423b9.html
M&A Activity
Open in viewerOpens in your device viewer
News Details
Corporate | 17 September 2018 15:03
Krones AG: Krones strengthens Process Technology with acquisition in China
DGAP-News: Krones AG / Key word(s): Mergers & Acquisitions
17.09.2018 / 15:03
The issuer is solely responsible for the content of this announcement.
Corporate news release
Krones strengthens Process Technology with acquisition in China
Krones, the world’s leading manufacturer of filling and packaging technology, has acquired the business operations and assets of Shanghai Xiantong Equipment Installation effective 1 September 2018. The Chinese company has been a partner and supplier to Krones in the field of process technology for many years. Krones Taicang has partnered successfully with Xiantong on the production, installation, and commissioning of process technology equipment for the past 20 years in order to best serve the local market
The acquisition represents another important step within Krones’ strategy of expanding its global footprint. Krones now owns a production site for brewing equipment and other process technology solutions in China. The team of around 170 people covers the entire value chain from engineering to manufacturing to installation and commissioning. The acquisition of Xiantong’s operations will support Krones’ efforts to best meet growing local and international demand for customised process technology solutions.
The company, which will operate under the name Krones Processing (Shanghai) Co. Ltd., will deliver turnkey process technology solutions, especially for breweries, around the globe. The company will remain headquartered in Fengxian District, in southern Shanghai.
Contact:
Olaf Scholz
Head of Investor Relations, Krones AG
Phone: +49 9401 70-1169
E-mail: [email protected]
17.09.2018 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.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| 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: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |