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Bietigheim-Bissingen, July 1, 2024 - Following its announcement in April, the Dürr Group today successfully closed the sale of the Danish filling technology specialist Agramkow. In concrete terms, Agramkow Fluid Systems A/S, including two subsidiaries and other assets, was divested to the Swedish investment company Solix Group AB.
The purchase price is based on the enterprise value of €47 million, with most of it accruing to the Dürr Group on July 1. As a result, the payment has no impact on Dürr AG's first-half figures, which will be published on August 8. A smaller portion of the purchase price is due in 2026.
Employing around 180 people, Agramkow generated sales of approx. €45 million in 2023. The company, headquartered in Sønderborg, Denmark, is the world's leading supplier of systems for filling refrigerators, air-conditioning systems, and heat pumps with refrigerant.
Agramkow was a non-core activity within the Dürr Group and had only limited synergies with other parts of the mechanical and plant engineering firm. The sale is part of the Dürr Group's strategy to focus on its core business of sustainable automation technologies and to reduce the Group's complexity. As part of this strategy, the Board of Management also announced in early June that the painting and final assembly business would be combined within the new Automotive division and that strategic options for the environmental technology business would be reviewed.
Dr. Jochen Weyrauch, CEO of Dürr AG, said: "The sale of Agramkow is an important step in our focus strategy and reduces the complexity of our company. At the same time, it offers Agramkow better growth opportunities under the umbrella of its new owner. Agramkow has an experienced management team and highly motivated employees. They, too, can benefit from new business and career opportunities."
CEO of Dürr AG
The Dürr Group is one of the world's leading mechanical and plant engineering firms with particular expertise in the technology fields of automation, digitalization, and energy efficiency. Its products, systems, and services enable highly efficient and sustainable manufacturing processes - mainly in the automotive industry and for producers of furniture and timber houses, but also in sectors such as the chemical and pharmaceutical industries, medical devices, electrical engineering, and battery production. In 2023, the company generated sales of €4.6 billion. The Dürr Group has around 20,500 employees and 142 business locations in 32 countries, and it operates in the market with five divisions:
- Paint and Final Assembly Systems: paint shops as well as final assembly, testing, and filling technology for the automotive industry
- Application Technology: robots and products for the automated application of paint, sealants, and adhesives
- Clean Technology Systems: air pollution control, coating systems for battery electrodes, and noise abatement systems
- Industrial Automation Systems: automated assembly and test systems for automotive components, medical devices, and consumer goods as well as balancing and diagnostic technology
- Woodworking Machinery and Systems: machinery and equipment for the woodworking industry
This publication has been prepared independently by Dürr AG/Dürr group. It may contain statements which address such key issues as strategy, future financial results, events, competitive positions and product developments. Such forward-looking statements are subject to a number of risks, uncertainties and other factors, including, but not limited to those described in disclosures of Dürr AG, in particular in the chapter "Risks" in the annual report of Dürr AG. Should one or more of these risks, uncertainties and other factors materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performances or achievements of the Dürr group may vary materially from those described in the relevant forward-looking statements. These statements may be identified by words such as "expect," "want," "anticipate," "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. Dürr AG neither intends, nor assumes any obligation, to update or revise its forward-looking statements regularly in light of developments which differ from those anticipated. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies.
Our financial reports, presentations, press releases and ad-hoc releases may include alternative financial metrics. These metrics are not defined in the IFRS (International Financial Reporting Standards). Net assets, financial position and results of operations of the Dürr group should not be assessed solely on the basis of these alternative financial metrics. Under no circumstances do they replace the performance indicators presented in the consolidated financial statements and calculated in accordance with the IFRS. The calculation of alternative financial metrics may vary from company to company despite the use of the same terminology. Further information regarding the alternative financial metrics used at Dürr AG can be found in our → financial glossary on the web page.
- right° and Dürr calculate climate impact of paint shops for the automotive industry
- +49 7142 78-1785
- a.schaller@durr.com
Carl-Benz-Str. 34
74321 Bietigheim-Bissingen
Germany
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- mathias.christen@durr.com
Carl-Benz-Str. 34
74321 Bietigheim-Bissingen
Germany
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Dürr AG published this content on 01 July 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 July 2024 08:54:38 UTC.
