Bochum / DE. (gea) GEA Group Aktiengesellschaft has further strengthened its Refrigeration Division through the acquisition of Eurotek Engineering Limited, a leading engineering company in the food freezing equipment business headquartered in Norwich, United Kingdom. In 2007, Eurotek generated sales of approximately eight million EUR with a workforce of 21 employees. The acquisition took effect on January 16, 2009.
The acquisition of Eurotek substantiates GEA´s strategy to acquire companies which complement GEA´s technological or geographical product offering. In particular, cooling and freezing technology for the food industry are key growth areas within GEA Refrigeration. While GEA acquired Aerofreeze (Canada) in 2007 and developed Aerofreeze Europe (France) in 2008, the acquisition of Eurotek will ideally complement GEA´s freezing business in Europe and enables realization of further identified growth and synergies.
The main activities of Eurotek include the design, engineering, installation and after sales service of industrial freezers consisting of Spiral Freezers, Tunnel Freezers and Carton Freezers. Purpose of these freezers is the cooling, chilling or freezing of food and other products in a continuous process in an industrial environment. The company´s products are used across the food industry in all sectors such as dairy, seafood, meat/poultry, bakery and prepared meals. The company has an established reputation in Europe and is also serving markets in the Middle East and in Asia.
GEA Refrigeration is one of the leading companies in the area of industrial refrigeration. The companies of GEA Refrigeration design, engineer, install and maintain innovative refrigeration components and systems for the food and beverage industry, for food storage and distribution as well as for the oil, gas and chemical industries. Its companies focus on quality, reliability and total cost of ownership for customers for whom industrial refrigeration is an essential part of their primary process. GEA Refrigeration employs approximately 3,800 people in more than 45 companies worldwide.
About: GEA Group AG is Germany´s largest listed mechanical engineering group. As an international technology group, the company concentrates on specialty mechanical engineering, with a focus on process technology and components. Consolidated sales amounted to 5,2 billion EUR in 2007, when the group generated over 50 percent of its sales in the high-growth food processing and beverages industries. As of September 30, 2008, the company´s workforce comprised over 21’000 employees, based in 50 countries. The GEA Group ranks as a market and technology leader in 90 percent of its business areas and is listed on the German MDAX.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- SSP Group: announces Third Quarter Trading Update 2024
- LG Chem and ADM: Joint Ventures in Illinois are canceled
- Wendy’s: Company plans to expand into Europe
- Delivery Hero: may face significant fine due to antitrust violations
- Emmi Group: intends to acquire Mademoiselle Desserts
- AB Foods: announces strong H1-2024 performance
- DSM-Firmenich: Queen Maxima inaugurates new dual head office
- RBI: Announces Investments to Drive Growth in China
- Europastry S.A.: puts its IPO process on hold
- McCormick: Reports Second Quarter Performance
- Reborn Coffee: Closes Master License Agreement for UAE
- General Mills: Reports Fiscal 2024 Fourth-Quarter Results
- SunOpta expands plant for processing plant-based beverages
- Britannia: Operating profit grew 10 percent in FY-2023
- Tate + Lyle and CP Kelco to merge to leading global player
- Ülker Bisküvi: announces Q1-2024 financial results
- Europastry: intends to go public on the Spanish stock exchange
- Europastry S.A.: publishes 2023 Annual Report
- Swisslog: announces new Americas region headquarters
- Reborn Coffee: Expanding Omni-Channel Strategy