The takeover is part of Metall Zug's long-term growth strategy. Thanks to the purchase and the additional know-how it brings, the V-ZUG group company will expand its household appliance business in the refrigeration segment. The acquisition of the refrigeration equipment business comprises fixed assets including inventories and tools. The approximately 100 employees will be taken over.
Jürg Werner, CEO of Metall Zug AG comments on the acquisition: "The Refrigeration Equipment business is strategically important for us. We will use our innovative strength to continue developing the premium segment and expand it in a focused manner." The company plans to make targeted investments in the future development of refrigeration technology. The technology site in eastern Switzerland will continue to operate. The takeover is expected to be completed by the beginning of the second quarter of 2013.
About Metall Zug
The Metall Zug Group employs a staff of about 3,000. The holding company Metall Zug AG is listed in the Domestic Standard of SIX Swiss Exchange in Zurich (series B registered shares: securities number 3982108, ticker symbol METN). In addition to the Swiss market leader V-ZUG AG, the household appliances business unit comprises SIBIRGroup AG and Gehrig Group AG. The Belimed Group (infection control) and the Schleuniger Group (wire processing) are also members of the Metall Zug Group.
Please note that any expectations expressed in this press release are based on assumptions. Actual results may vary from those anticipated. This press release is published in German, French English and Italian. The German version shall be binding.
March 18, 2013: Publication of Year-End Figures
April 11, 2013: Annual Media Conference
May 3, 2013: Annual General Meeting