Capital market-relevant press releases, 2002-07-12, 02:00 AM
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 1.8 billion euros 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, cutomers 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
Phone: + 49 (211) 824-36001
Fax: + 49 (211) 824-36010
ThyssenKrupp Technologies AG
Phone: + 49 (201) 106 532 64
Fax: + 49 (201) 106 532 65