World News: 12:30 GMT Tuesday 28th August 2018. [EQS Group via SPi World News]
DGAP-News: Gesco AG / Key word(s): Takeover/Takeover
Wuppertal, 28 August 2018 - Prime Standard-listed GESCO AG has acquired Sommer & Strassburger GmbH Co. KG, Bretten/Germany. Founded in 1973, the company designs and produces processing equipment with a focus on the pharmaceutical, food, water technology and chemical industries. A high-end processor of stainless steel, Sommer & Strassburger has positioned itself in the relevant customer sectors as a leading-edge provider of process tanks, filter housings and membrane housings through its AseptraLine, FiltraLine and MembraLine brands. At the ACHEMA industry trade fair in June 2018, the company also unveiled the ResiLine product line, an innovative corrosion-resistant membrane housing made of polymer-coated stainless steel for transporting substances with a high salt or chlorine content, for example.
GESCO AG is acquiring 100 % of the shares. Michael Hilpp, the owner, will remain active at the company as its managing director. With roughly 125 employees, Sommer & Strassburger generates sales of nearly EUR 20 million. Within GESCO Group, the company will be assigned to the Production Process Technology segment. The acquisition is subject to approval by antitrust authorities.
Sommer & Strassburger has decades of experience, extensive materials expertise and its own system development. The company has the process technology know-how to understand its customers' methods and develop solutions that function reliably. An outstanding vertical depth of production, including in-house surface treatment, provides high-end quality for the respective customer sectors.
Michael Hilpp: 'I have transferred my company to an industrial group to secure its success and continued existence. As an owner with a focus on the long term, GESCO will guarantee my succession and support me actively with its industrial expertise in the next stages of growth. My company will maintain its independence while also benefiting from the support of GESCO AG and from dialogue with the other members of the Group - an ideal constellation, in my opinion.'
Ralph Rumberg, Spokesman of the Executive Board at GESCO AG: 'Sommer & Strassburger has systematically evolved over the past 20 years from being a contract manufacturer to being a focused provider with its own product range. The company serves discriminating customers in attractive markets with high-quality technology. All told, it is a real hidden champion that is an excellent match for GESCO Group. We look forward to integrating Sommer & Strassburger rapidly and working with Mr Hilpp to actively drive the company's further development.'
Investor Relations - Oliver Vollbrecht
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|End of News||DGAP News Service|
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