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GEA Group Aktiengesellschaft: Enters into exclusive negotiations with Syclef to sell its refrigeration contracting and service operations in France

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DGAP-News: GEA Group Aktiengesellschaft / Key word(s): Disposal
21.09.2021 / 12:30
The issuer is solely responsible for the content of this announcement.

GEA enters into exclusive negotiations with Syclef to sell its refrigeration contracting and service operations in France


Duesseldorf, September 21, 2021 - GEA entered into exclusive negotiations regarding the potential sale of its refrigeration contracting operations in France to Syclef, a leading French company specializing in the installation and maintenance of industrial and commercial refrigeration systems. The potential transaction marks the conclusion of GEA's portfolio review that was initiated in 2019. Both parties have agreed not to disclose the financial details of the possible sale.

GEA Refrigeration France SAS, based in Les Sorinières (near Nantes), provides customized refrigeration solutions for industrial customers. The company, with about 230 employees, generated revenues of about EUR 75 million in 2020. The company is well established in the French market. However, it does not sustainably reach margin targets set by GEA for this type of business. The potential transaction does not affect GEA's compressor selling business in France, which retains its strategic importance and will be retained by GEA. After the divestiture, the focus in the French market will be on selling compressors and related equipment to packagers and contractors.

The transaction remains subject to the information and consultation process of the relevant employee representative bodies in accordance with applicable laws as well as approval by antitrust authorities. A potential closing is not expected before Q1 2022.

 

Media Relations:
Anne Putz
Peter-Müller-Strasse 12, 40468 Düsseldorf, Germany
Phone +49 (0)211 9136-1500
anne.putz@gea.com

About GEA
GEA is one of the world's largest systems suppliers for the food, beverage and pharmaceutical sectors. The international industrial technology group specializes in machinery and plants as well as advanced process technology, components and comprehensive services. With more than 18,000 employees, the group generated revenue of more than EUR 4.6 billion in fiscal year 2020. A major focus is on continuously enhancing the sustainability and efficiency of customers' production processes. GEA plants, processes and components help achieve significant reductions in carbon emissions, plastic use and food waste in production worldwide. In this way, GEA makes a decisive contribution toward a sustainable future, fully in line with its corporate philosophy of "engineering for a better world."

GEA is listed in the German MDAX and the STOXX(R) Europe 600 Index and is also among the companies comprising the DAX 50 ESG and MSCI Global Sustainability Indices.

More information can be found online at gea.com.
If you do not want to receive any further information from GEA, please send an e-mail to pr@gea.com.

About SYCLEF
Founded in 2003, Syclef is a French leader in the installation and maintenance of refrigeration systems. The group is specialized in medium and large refrigeration installations, in industrial refrigeration (logistics platforms, storage warehouses, food processing etc), commercial refrigeration (supermarkets, convenience stores) and air conditioning. Syclef's customer base relies on Syclef to manage its complex and critical refrigeration systems. The group benefits from a key player position in the energy transition through the use of innovative sustainable technologies such as natural refrigerant fluids.

www.syclef.fr

 




Contact:
GEA Group Aktiengesellschaft
Phone +49 (0)211 9136 1081
Fax +49 (0)211 9136 31087
gea.com


21.09.2021 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:

GEA Group Aktiengesellschaft

Peter-Müller-Straße 12

40468 Düsseldorf

Germany

Phone:

+49 (0)211 9136-0

Fax:

+49 (0)211 9136-31087

E-mail:

ir@gea.com

Internet:

www.gea.com

ISIN:

DE0006602006

WKN:

660200

Indices:

MDAX

Listed:

Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich; Regulated Unofficial Market in Hanover, Stuttgart, Tradegate Exchange

EQS News ID:

1234807


 

End of News

DGAP News Service

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