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Company News, 2011-08-23, 08:32 AM

Best owner found for ThyssenKrupp Xervon – agreement signed with REMONDIS group

On May 13, 2011 ThyssenKrupp AG decided on an integrated strategic development program to move the Group forward competitively and sustainably. The program encompasses portfolio optimization, change management and performance enhancement. The goals are to reduce debt, enable growth, generate income and create value.

As part of the portfolio optimization, the Group will be divesting businesses for which there are stronger alternative strategic options. In this connection a further milestone has been reached:

For the Düsseldorf-based Xervon group, which has over 9,000 employees and achieved sales of €668 million in fiscal 2009/2010, ThyssenKrupp has now found a best owner in the industrial service provider REMONDIS AG & Co. KG. The agreement was signed on Friday, August 19, 2011. The acquisition is subject to approval by the regulatory authorities and the responsible supervisory bodies. Joachim Limberg, Management Board Chairman of the Materials Services business area, said the REMONDIS group was a reliable partner to take Xervon forward. “The REMONDIS group is an experienced, strongly positioned service company with strategic vision. Xervon will be an excellent addition to the REMONDIS portfolio. This will provide security for the future of the company and its employees.”

Thomas Breitkopf, Chief Executive of REMONDIS AG & Co. KG, said: “We are delighted to have found the perfect strategic complement to our industrial services in Xervon. Integration into the REMONDIS group will enable Xervon to develop into Germany’s first fully integrated industrial service provider. We are very pleased with this successful addition to our group and will work with our new employees to continue and expand our growth course for the future.”

With 19,000 employees, REMONDIS AG & Co. KG is a major privately owned service company focused on water and recycling services. The group provides professional services to more than 20 million people and thousands of companies around the world. In fiscal year 2010 the company generated sales of €5.4 billion and has over 500 locations in 28 countries.

ThyssenKrupp Xervon GmbH is one of the world’s leading providers of technical services for industrial plant construction and maintenance. Its customers are mainly in the chemical, petrochemical, power generation and construction sectors. The company’s capabilities extend from individual services such as scaffolding, insulation, surface technology and piping, to full maintenance of processing facilities (assembly, maintenance, inspection and repair of rotating equipment, EMC equipment, valves, fittings and process equipment), to comprehensive site management including budgeting, maintenance planning and execution, infrastructure services and operating ancillary systems.

ThyssenKrupp resumed the disposal process for Xervon in October 2010, having suspended it in the previous year due to the global financial and economic crisis.

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