Strategic acquisition of the company Eisenmann Intec in Germany
PRESS RELEASE Paris, December 23, 2019
Strategic acquisition of the company Eisenmann Intec in Germany
Paris, December 23, 2019 – EXEL Industries signed an agreement to acquire 100% of the Germany company Eisenmann Intec GmbH & Co. KG. This agreement is subject to the decision of the competition authorities in Germany.
Intec shall be acquired by Sames Kremlin, the EXEL Industries' subsidiary specialized in applications of paints and high-viscosity products. The Intec site at Erftstadt, near Cologne, will be retained with all the staff in Germany and abroad.
Established on the agriculture, industry and consumer markets, EXEL Industries continues to expand on the industry market abroad.
Yves Belegaud, Chief Executive Officer of the EXEL Industries Group, commented on this new acquisition:
"It is with great pleasure that we are welcoming Intec into our Group. In line with our development model, Intec will retain its brand and its autonomy within Sames Kremlin. This strategic acquisition for EXEL Industries significantly strengthens our presence with vehicle manufacturers, particularly in Germany. The two companies share a passion for innovation and services to the benefit of particularly demanding customers. Intec and Sames Kremlin will mutually benefit from highly complementary product ranges and customers to develop their businesses to apply high-viscosity products in the car and general industry."
About Intec:
Intec is a major manufacturer of bonding equipment specific to the automotive industry, mainly in body assembly plants (body-in-white). A profitable company, Intec's sales in 2019 will reach almost €40 million, with approximately 120 employees, 16 of whom are outside Germany, to support its export customers.
About Sames Kremlin:
Sames Kremlin is the worldwide leader in the application of paint and high-viscosity products. The mission of Sames Kremlin is to support its customers’ industrial process, from assembly, protection against the environment, to finish by beautifying manufactured products. The company employs 800 persons in France and in its 15 foreign subsidiaries.
About EXEL Industries:
EXEL Industries’ core business is agricultural and industrial spraying. The Group also competes in the consumer watering products market and in sugar beet harvesters. The goal of EXEL Industries is to expand in its markets through a policy of constant innovation and an international growth strategy. EXEL Industries generated sales of €777 million (of which €195 million on the industrial spraying business) in 2018/19 and employs 3,544 persons in 27 countries, on the five 5 continents.
YOUR CONTACTS
| Yves BELEGAUD | Sophie BOUHERET |
| Directeur Général Groupe | Directrice Financière Groupe / Relations Investisseurs |
| Tél : 01 71 70 49 50 |
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