GILDEMEISTER and ThyssenKrupp to consider pooling machine tools
GILDEMEISTER Aktiengesellschaft, Bielefeld, and ThyssenKrupp Technologies AG, Essen, are to look at combining their activities in the field of metal-cutting machine tools. Representatives of GILDEMEISTER and ThyssenKrupp have agreed to examine a pooling of activities and initiate further steps. A tie-up with ThyssenKrupp's machine tool business would give GILDEMEISTER sales of around Euro1.8 billion and further strengthen its position in the machine tool sector. Both sides assume that ThyssenKrupp would become the largest single shareholder in GILDEMEISTER, without targeting control of the company.
An analysis of the activities of the two companies by products, customers and geographical regions shows that GILDEMEISTER and ThyssenKrupp Metal Cutting are a good fit. The product ranges of the two companies show virtually no overlaps on the market side. ThyssenKrupp Metal Cutting's strength is in systems business, while GILDEMEISTER is a leader in standardized machines. The deal would strengthen GILDEMEISTER particularly in North America and on important European markets, and together the two companies could increase their presence in Asia.
GILDEMEISTER and ThyssenKrupp Metal Cutting together could offer a full range of products from standard machines to systems solutions on a worldwide basis. The aims would be to expand technology leadership, develop new customer segments, particularly in the auto industry, and strengthen service-based business. The pooling of activities would hold potential for cost reductions in purchasing, productivity improvements, and synergies in sales and marketing as well as research and development.
We believe the combination of GILDEMEISTER and ThyssenKrupp Metal Cutting would represent an attractive move from the point of view of the capital market.
Dr. Jürgen Claassen
TPhone: +49 (0)211/824-36001
ThyssenKrupp Technologies AG
Phone: +49 (0) 201/106-53264
Disclaimer, Forward-looking statement
Statements relating to the future:
This press release contains forward-looking statements, which are based on current estimates of the management of future developments. Such statements are based on the management's current expectations and specific assumptions. They are subject to risks, uncertainties and other factors, which could lead to the actual future circumstances, including the assets, liabilities, financial position and profit or loss of GILDEMEISTER, differing materially from or being more negative than those expressly or implicitly assumed or described in these statements. The business activities of GILDEMEISTER are subject to a series of risks and uncertainties, which may result in forward-looking statements, estimates or forecasts becoming inaccurate. Should one of these factors of uncertainty or other unforeseeable event occur, or should the assumptions on which these statements are based prove incorrect, the actual results may differ materially from the results stated, expected, anticipated, intended, planned, aimed at, estimated or projected in these statements. Forward-looking statements must not be understood as a guarantee or assurance of the future developments or events contained therein.