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Georg Fischer AG, Schaffhausen, is to sell its entire equity holding in Georg Fischer Schwab GmbH & Co KG, Pfullingen, Germany, to Arques Industries, Starnberg, Germany, as per 31 March 2006. Arques will continue the operations of Georg Fischer Schwab in Pfullingen. Georg Fischer Schwab, which is part of GF Piping Systems, produces and sells surface and wall-mounted flushing cisterns for the plumbing industry. In recent years, the company's turnover has been around EUR 11 million; it employs 55 people at present.
The sale is part of GF Piping Systems' systematic focus on its core competency piping systems. The revised growth strategy of GF Piping Systems regards building technology as particularly promising and concentrates in this business on piping systems for plumbing and heating. These activities are to be integrated into the German sales company Georg Fischer GmbH, Albershausen. Thus, all segments of the market (industry, utilities and building technology) will be covered from one location.
Arques Industries AG is a listed German firm that focuses on acquiring and reorienting companies. Arques Industries, which has holdings around the world, generated sales of EUR 415 million in 2005 with its 2,500 employees.
Both Georg Fischer and Arques Industries, which has its own production site in Fellbach near Pfullingen, are confident that the new solution is the way forward.
For further information please contact:
Arques Industries, phone +49 (0)8151 651-130, Anke Lüdemann
(www.arques.de)
Georg Fischer AG, phone +41 (0)52 631 2697, Markus Sauter
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