INDUS acquires full ownership of Ennepetal-based Köster Group
Bergisch Gladbach, September 18, 2008 - SDAX-listed INDUS Holding AG (ISIN DE0006200108) has just announced an expansion of its investment portfolio through the 100 percent takeover of Anneliese Köster GmbH & Co. KG (KÖCO) based in Ennepetal. KÖCO comprises the Ennepetal-based operating company, Köster & Co. GmbH, as well as its Czech and Italian production and sales subsidiaries. “Following a prolonged phase during which INDUS refrained from making new investment in light of exaggerated asking prices, we are now optimally positioned to move ahead with new acquisitions“, said Helmut Ruwisch, CEO of INDUS Holding AG.
KÖCO was founded in 1952. Its Ennepetal and Czech factories produce connecting elements for stud-welding applications including the required stud welding machines. The system supplier’s products bearing the KÖCO logo enjoy an excellent market position due to the company’s distribution network in 80 countries worldwide.
Stud welding is a safe and very efficient process for joining workpieces and its importance continues to grow especially in the infrastructure area. Applications are found worldwide in steel construction, steel concrete construction, shipbuilding, engineering, container building, commodities production and other industries.
The Köster Group is characterised by dynamic growth and employs approximately 100 staff. The company expects to report sales in excess of EUR 23 million, with an export share of approximately 60 percent, in fiscal 2008.
"I believe that the sale to INDUS represents an ideal solution with regard to the long-term viability of my company and the jobs here at the local level," said the current owner, Detlef Köster.
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