In November 2022, GESCO announced that its subsidiary SVT GmbH had concluded a purchase agreement for the steel construction division of its long-standing Hungarian supplier BAV Tatabánya Kft. based in Tatabánya. In the meantime, the transaction has been approved by the Hungarian authorities, so that the transaction has now been successfully completed.

The core business of the acquired part of the company is the design and manufacture of welded steel structures. These are required for special steel constructions such as SVT's loading arms. As before, however, the acquired part of the company will also serve demand from outside the group and today has a pleasing external order intake.

With the closing of the transaction in the current financial year, the business unit will be consolidated for the first time in the first quarter of 2023 and thus the transaction will have no impact on the key financial figures of the 2022 financial year.

About GESCO:

GESCO SE is an industrial group with market- and technology-leading companies in the capital goods industry with a focus on process, resource and healthcare and infrastructure technology. As a company listed in the Prime Standard, GESCO SE gives private and institutional investors access to a portfolio of hidden champions of the German industrial SME sector.

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