Bauer acquires German Water and Energy GmbH ("GWE"), expanding its business in well engineering, water and geothermal energy
Schrobenhausen (euro adhoc) -
ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
merger, acquisition and takeover
Schrobenhausen, April 20, 2007 - BAUER
Aktiengesellschaft has come to a definitive agreement with the
proprietor of German Water and Energy GmbH ("GWE"), Gerd Max Nelke,
to purchase all the shares in all the subsidiaries of the GWE Group.GWE operates mainly in the development, manufacture and sale of high-quality products for water exploration, exploitation, transportation and distribution. The focus of the Group's activities is in the field of well engineering products, including screens, pipes and casing, as well as in pumps and drilling technique. In addition pumpenboese, a company of the GWE Group, manufactures high-quality products made from HDPE for the use of geothermal energy.
As a result of this acquisition, Bauer is well on the way to achieving a leading position in the emerging resources sector, complementing its existing core construction and equipment manufacturing business. GWE's 40 percent holding in PRAKLA Bohrtechnik GmbH, a well and exploration engineering specialist, will also be transferred to the BAUER Group, which as a result will hold 100 percent of that company's shares.
Thomas Bauer, Chairman of the Management Board of Bauer Aktiengesellschaft, says: "Acquiring the GWE Group represented an outstanding opportunity for us. It will further expand our product range in water exploitation and distribution, and will enable us to profit from new high-level expertise in the field within the Group. We will utilize our global network to substantially expand our international market presence in what is to some extent a new business for us, providing us with an even broader based foundation to meet the challenges of the future. We are also very pleased to be acquiring a team of some 300 highly qualified staff, representing a major competitive edge in terms of building further on the success of our business operations."
The profitable group of companies, based in Peine, generated sales of just under EUR 52 million in the past financial year (without the 40 percent holding in PRAKLA Bohrtechnik GmbH) and, with its outstanding brand names such as Hagusta, SBF and pumpenboese, operates from four locations in Germany as well as with Pol-Bud and PESA from further locations in Poland and Spain.
It was agreed that no details of the contract or the purchase price would be disclosed.
About Bauer Bauer is a global provider of specialist foundation engineering and related services as well as a leading international vendor of specialist foundation engineering machinery, equipment and tools and related services.
The Group's operations are managed in two segments: Construction and Equipment. The Construction segment provides specialist foundation engineering services and also operates in the related fields of environmental technology, structure remediation, bridge-building and project development. In its Equipment segment, Bauer offers an extensive range of machinery, equipment and tools for specialist foundation engineering. The Group markets its products and services worldwide, through local sales companies and project management networks. The BAUER Group profits from the collaboration between its two segments. This means Bauer is able to offer innovative and highly specialized complete solutions for specialist foundation engineering projects, providing all the necessary services and specialist equipment.
Founded over 200 years ago, the BAUER Group today generates over two thirds of its total revenues outside of Germany. Employing over 5,000 people, the Group's total revenues were EUR 824 million (previous year: EUR 664 million) in 2005.
end of announcement euro adhoc 20.04.2007 12:40:34
Further inquiry note:
Bettina Mestenhauser
Head of Corporate Communication & Investor Relations
Tel: +49(0)8252 97 1918
E-Mail: bettina.mestenhauser@bauer.de
Branche: Construction & Property
ISIN: DE0005168108
WKN: 516810
Index: CDAX, Classic All Share, Prime All Share, SDAX
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
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