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WashTec AG — M&A Activity 2010
Apr 1, 2010
483_rns_2010-04-01_ec6f2284-24ba-4156-8ac4-8db6984138c9.html
M&A Activity
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Corporate | 1 April 2010 09:43
WashTec AG: WashTec starts its own operations in Australia
WashTec AG / Key word(s): Miscellaneous
01.04.2010 / 09:43
Press release
WashTec starts its own operations in Australia
Augsburg, April 1, 2010 – WashTec, the world leader in providing car wash equipment and services, has founded its own subsidiary ‘WashTec Australia Pty Ltd’ and has started direct sales and service operations in Australia. The headquarters of WashTec Australia are located in Sydney.
Thorsten Krüger, CEO of WashTec AG, on the reasoning and timing for this move:
‘The economical downturn has affected the Australian market similarly to other markets and caused our non-exclusive distributor, CK Group Australia, to exit the car wash business in March.
The Australian car wash market is attractive and well established with a WashTec installed base of several hundred machines. The car wash business continues to be profitable for most operators and we are committed to support our existing customers with quality service and equipment. WashTec Australia, as all our direct operations world-wide, will focus on these core competencies: providing its customers with the equipment and services they need for a profitable car wash business.
This investment into the Australian market will on the short-term secure our ongoing equipment sales as well as high product availability for our customers in this region. In the mid-term this will further strengthen our global presence, word-wide market-leadership and relationship to large accounts.’
Contact:
WashTec AG
Argonstrasse 7
86153 Augsburg
Tel.: +49 (0)821 – 55 84 – 0
Fax: +49 (0)821 – 55 84 – 1135
End of Corporate News
01.04.2010 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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| 84940 01.04.2010 |