TAKKT AG / Key word(s): Strategic Company Decision
TAKKT sells the Plant Equipment Group
Stuttgart, 02 January 2015. On 31st December 2014 TAKKT Group has entered into a purchasing agreement to sell the membership interests of all companies belonging to the Plant Equipment Group (PEG) to Global Industrial, a Group company of NYSE-listed Systemax Inc. The closing of the transaction is expected to happen until the end of January 2015. With this step TAKKT will focus its activities to become an integrated multi-channel company.
As a storage and material handling specialist, the PEG division, which previously belonged to the TAKKT AMERICA segment, mainly offers products for transport, storage and plant equipment to companies in the US, Canada and Mexico. In the financial year 2013 the PEG generated a turnover of 104 million US dollars. The PEG combines the direct marketing brands C&H, Avenue and Industrial Supplies.
The agreed purchase price (free of financial debt) is 25 million US dollars. "The sale is expected to have a positive effect on profits in a low single-digit million euro range", says TAKKT CFO Claude Tomaszewski. "With the sale to the strategic competitor Global Industrial, PEG will have better opportunities to grow than it would have been the case under the TAKKT umbrella. With this step TAKKT can focus its resources to become an integrated multi-channel company", comments TAKKT CEO Felix Zimmermann. As a result of the PEG disposal, TAKKT does not expect a noticeable impact on the other North American TAKKT companies.
About TAKKT AG
The TAKKT Group has approximately 2,500 employees and almost three million customers worldwide. TAKKT AG is listed on the SDAX and has been in the Deutsche Boerse Prime Standard since January 1, 2003.
Germany: +49 69 201 744 220
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