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FARAL S.p.A, a BAVARIA Industriekapital subsidiary, has acquired two French companies from Zehnder Group, Switzerland. FARAL is a leading manufacturer of sophisticated and energy friendly aluminium radiators and is based in Modena, Italy. In 2007, the company had sales of EUR 48 million and employed 240 employees. The parties also signed long term agreements to ensure the further supply of key products to Zehnder Group.
The acquired French companies represent a technology leading aluminium radiator manufacturing site in Carmaux (by Toulouse) and a sales & marketing company situated just south of Paris. BAVARIA Industriekapital's Managing Director and President of FARAL SpA, Hans Magnus Andresen, commented; "In less than 6 months since the acquisition of FARAL in Modena, the BAVARIA Support Team, in close cooperation with the local FARAL management, has managed to turn FARAL's operating losses of averagely 1.5 Mill. Euro per month into a break-even business. The implementation of the BAVARIA Business Operating System and working capital improvement program has showed excellent results in a very short time and put FARAL in a position to perform these important French acquisitions. This solidifies FARAL's already leading position as a world class aluminium radiator manufacturer and is in line with our long term growth strategy for the company."
BAVARIA Industriekapital AG group revenues were EUR 410 million in 2007, with net profits of EUR 23 million. The company is listed in the Entry Standard on the Frankfurt Stock Exchange. Headquartered in Munich, the group invests in companies with strong market positions and the potential to improve profits.
For further information please contact:
BAVARIA Industriekapital AG Frau Svea Troester Investor Relations svea.troester@baikap.de Tel +49 (0)89 7298 967 0
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BAVARIA Industriekapital AG Bavariaring 18 München Germany
WKN: 260555; ISIN: DE0002605557; Listed: Entry Standard in Frankfurter Wertpapierbörse, Freiverkehr in Bayerische Börse München, Freiverkehr in Börse Berlin, Freiverkehr in Börse Düsseldorf, Freiverkehr in Börse Stuttgart, Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr in Niedersächsische Börse zu Hannover;
