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Egelsbach, November 17, 2006
Press release of GEA Group: GEA Group Aktiengesellschaft sells Fleissner GmbH, Egelsbach, Germany, a manufacturer of textile machinery to the Trützschler Group, Mönchengladbach, Germany. Fleissner is a profitable business and generated sales of approximately EUR 60 million with about 350 employees in 2005. The company is a subsidiary of Zimmer AG and as such it is part of the PET and Fibers division. "This transaction constitutes a first successful step of the envisaged sale of our Plant Engineering segment. Further steps will follow shortly. We are convinced that, in Trützschler, Fleissner has found an excellent owner which, given its international experience within the textile engineering industry, will be able to provide Fleissner with the best possible support in taking this business forward", said Jürg Oleas, CEO of GEA Group Aktiengesellschaft. "The acquisition of Fleissner represents another major step in the expansion of Trützschler's nonwoven operations", added Dr. Michael Schürenkrämer, managing partner of the Trützschler Group. The disposal of Fleissner is the result of a bidding process in which a number of investors took part. The transaction will have a positive overall impact on the net position of GEA Group. GEA Group Aktiengesellschaft is an international technology group that focuses on specialty mechanical engineering - especially process engineering and equipment - and plant engineering. Sales in 2005 - including the Plant Engineering segment - totaled approximately EUR 4.5 billion. The GEA Group is one of the world's market and technology leaders in 90 percent of its businesses and is listed in Germany's MDAX index (G1A., WKN 660200).
The former family-owned Fleissner Company, founded in 1848, taken over by Zimmer AG in 2003 and currently employing 350 people, is a new member of the Trützschler Group. With the acquisition of Fleissner, TRÜTZSCHLER is expanding its nonwovens machinery range from bale opening, carding, lapping and web drafting (ERKO TRÜTZSCHLER), all the way to entangling and drying. Fleissner is located in Egelsbach near Frankfurt and remains under the management of Mr. Buckel and Dr. Heller. The company is a market leader in the nonwovens sector with its lines (aqua-jet entangling), as well as with its machines and lines for the production of man-made fibres. In addition, the product range includes high-duty lines for drying of tissue and paper, and finishing lines for textiles. The TRÜTZSCHLER Group, with headquarters in Mönchengladbach, Germany, and subsidiaries in six countries with about 2200 employees worldwide, also supplies machines and installations for the textile industry. It is specialized in spinning preparation equipment and global market leader in this field. In 2005, Trützschler acquired shares of ERKO in Dülmen, thus gaining a comprehensive nonwovens machinery range. The product range of ERKO TRÜTZSCHLER and Fleissner complements one another in an excellent way, making it possible to supply complete lines. If requested by customers, lines or equipment can also be supplied in cooperation with other companies and competitors, as has been a long-standing tradition for TRÜTZSCHLER and Fleissner. TRÜTZSCHLER has its own nonwovens production at American Trützschler in Charlotte/USA. This gives ERKO TRÜTZSCHLER already today a good platform for servicing the North American market, which can be used for Fleissner as well. Additional TRÜTZSCHLER production locations in Brazil, India and China with their own service, as well as a global service of approx. 100 employees, strengthen the international performance. Fleissner and TRÜTZSCHLER look forward to working together in the various operative units and application areas to benefit customers worldwide.
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GEA Group sells Fleissner to Trützschler