ERIKS substantially expands its activities in Germany
FromExecutive Board ERIKS group nv
Telephone+31-72 54 75 888
Date27 April 2004
SubjectTHE ERIKS GROUP SUBSTANTIALLY EXPANDS ITS ACTIVITIES IN GERMANY
ERIKS group nv has reached an agreement in principle to acquire all shares (asset deal) of Steinebronn Industrietechnik in Stuttgart, Germany.Steinebronn Industrietechnik is part of Fluitronics GmbH in Germany which again is part of Nimbus, an investment company in the Netherlands. The activities of Steinebronn Industrietechnik comprise the marketing, sale and partly the processing of products and services especially in the field of power transmissions. With its headquarters in Stuttgart, Steinebronn also has an operation in Saarbrücken.
With approx. 130 employees Steinebronn achieves annual sales of € 28.0 millions and delivers its products directly to industrial end-users (maintenance and OEM customers) mainly located in the German federal state Baden-Württemberg (in the southwest of Germany).
Sales by product group in the core activity power transmissions can be broken down as follows:
- hydraulic hoses and couplings, and connecting and measuring technology components 40%
- bearings and linear technology 25%
- hydraulic components 20%
- pneumatics 15%
With this acquisition ERIKS:
- expands its activities geographical to the important industrial federal state Baden-Württemberg
- is, with the operations of the Heusinger + Salmon Group (in and in the area of Hamburg, Hanover, Bielefeld, Düsseldorf, Frankfurt and Mannheim) and Schötz Industrietechnik GmbH (in and in the area of Munich, Nuremberg and Regensburg) present in almost all of Germany
- achieves a substantial strengthening of its core activity power transmissions
- gets the opportunity to also offer the other products groups of its assortment in the area where Steinebronn is located.