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WashTec AG — M&A Activity 2008
May 7, 2008
483_rns_2008-05-07_ae1abca5-43ce-46b4-b40f-854b521907e9.html
M&A Activity
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Corporate | 7 May 2008 20:29
WashTec AG: WashTec AG signs agreement to acquire auwa Chemie GmbH & Co KG
WashTec AG / Key word(s): Acquisition
07.05.2008 / 20:29
WashTec AG signs agreement to acquire auwa Chemie GmbH & Co KG
Augsburg, May 7, 2008 – WashTec AG today signed an agreement to acquire auwa Chemie GmbH & Co KG. The takeover is effective May 1, 2008.
auwa Chemie is a medium-size manufacturer of carwash chemicals with its headquarters in Augsburg, Germany. The company was established in 1970 by its current owner. auwa Chemie offers a complete range of carwash chemicals and with its ‘auwa’ brand, has become a well-established manufacturer in the predominantly medium-sized European market for carwash chemicals. Through its own sales network in Germany and sales partners across Europe, auwa Chemie generates revenues of around 5 million Euros per year and has consistently posted positive results. The acquisition will be financed through the WashTecGroup’s existing bank syndicate.
‘The acquisition of auwa is consistent with WashTec’s strategic positioning as a full solution provider of all services around the carwash value chain’ explained WashTec management board spokesman, Thorsten Krüger. ‘For some time now we have been looking for a suitable partner to expand our range of products targeted at the car wash industry. The sales network and expertise that we are adding with auwa will serve as a platform to significantly grow our revenues in the chemicals segment. It will also serve as a basis for future carwash chemicals innovations. As the market leader, we will aim to achieve also a leading position in the carwash chemicals market. This step will allow us going forward to give all WashTec and auwa customers even greater support in their car wash businesses.’
WashTec AG, Argonstr. 7, 86153 Augsburg ISIN: DE0007507501
Listed: official market in Frankfurt (Prime Standard); over-the-counter market in
Berlin-Bremen, Düsseldorf, Munich and Stuttgart
Contact:
Karoline Kalb, Investor Relations
WashTec AG
Argonstraße 7
86153 Augsburg
Tel.: +49 (0)821 – 55 84 – 0
Fax: +49 (0)821 – 55 84 – 1135
Mobile: +49 175 – 4302025
End of Corporate News
07.05.2008 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG.
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| Language: | English |
| Company: | WashTec AG |
| Argonstraße 7 | |
| 86153 Augsburg | |
| Germany | |
| Phone: | +49 (0)821 55 84-0 |
| Fax: | +49 (0)821 55 84-1135 |
| E-mail: | [email protected] |
| Internet: | www.washtec.de |
| ISIN: | DE0007507501 |
| WKN: | 750750 |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart |
| End of News | DGAP News-Service |
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| 32753 07.05.2008 |