GEA Acquires Powder Specialist Nu-Con in New Zealand
The acquisition of Nu-Con is a further important strategic step in positioning GEA in the bulk powder handling market.
7/12/2011 --- GEA Group has acquired Nu-Con Ltd in Auckland, New Zealand, a major global supplier of powder handling components, complete powder handling systems and bulk filling lines. With 167 employees, Nu-Con generated some EUR 27 million in revenues during the FY ending March 2011. Nu-Con’s powder handling systems are especially used for infant formula, dairy and other food processing as well as in various industrial applications. The company will be integrated into the segment GEA Process Engineering. The transaction will be financed entirely through GEA Group’s existing credit facilities. It remains subject to approval by the anti-trust authorities and is expected to be consummated in September 2011.
“The acquisition of Nu-Con is a further important strategic step in positioning GEA in the bulk powder handling market. Nu-Con fits perfectly into our product and location matrix and strengthens our powder business especially in the growing Asian markets,” noted Niels Graugaard, Member of the Executive Board of GEA Group Aktiengesellschaft.
GEA Group Aktiengesellschaft is one of the largest suppliers of process technology and components for the food and energy industries. As an international technology group, the Company focuses on sophisticated production processes. In 2010, GEA generated consolidated revenues in excess of EUR 4.4 billion, 70 percent of which came from the food and energy sectors, which are long-term growth industries. The group employed about 23,000 people worldwide as of March 31, 2011. GEA Group is a market and technology leader in its business areas. It is listed in Germany’s MDAX stock index (G1A, WKN 660 200). In addition GEA Group has a sponsored level I ADR program in the USA.
