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Possehl Expands Special-Purpose Construction Business Division via Acquisition of Euroquarz Group
Lübeck, Germany, November 30, 2009 – The Possehl Group, based in Lübeck, Germany, will be acquiring the company Euroquarz GmbH, located in Dorsten, Germany, including all subsidiaries, as of January 1, 2010. The Euroquarz Group achieves annual sales of approximately € 40 million with a total of 200 employees and is active in its main locations of Dorsten (North Rhine-Westphalia), Ottendorf-Okrilla (Saxony), Essen and Hünxe (North Rhine-Westphalia).
Euroquarz GmbH is a leading supplier of quartz gravel, which is mined and processed in its own facilities. Quartz gravel can be used in a wide variety of applications, including in the production of filter gravel and ready-mixed mortar. Its subsidiary PAGEL in Essen is a leading supplier of specialty mortars such as grout. Gremmler Bauchemie GmbH in Hünxe rounds out the product range with special-purpose construction chemicals for surface coatings.
With the acquisition of Euroquarz GmbH, Possehl is expanding its successful Special-purpose Construction business division. Euroquarz will be managed as an independent unit within this business division, where it will be able to continue its progress while maintaining its own identity.
Dr. Joachim Brenk, L. Possehl & Co. mbH Executive Board Member with responsibility for the Special-purpose Construction business division, commented as follows on the acquisition: “We are very pleased that we will be in a position to lead this successful group of companies securely and successfully into the future as part of the Possehl Group. The Possehl business division Special-purpose Construction, which has already had a very successful year as it is, will be considerably strengthened by this acquisition. Furthermore, the purchase of Euroquarz has allowed us to continue to successfully pursue our acquisition strategy, directed in particular at mid-sized German companies.”
This transaction is still awaiting approval from the competition authorities.
With its decentrally organized business divisions Special-purpose Construction, Precious Metals Processing, Elastomer Processing, Electronics, Cleaning Machines, Textile Finishing, International Trading and Services, the Possehl Group, under the leadership of the management holding L. Possehl & Co. mbH, achieved sales of € 1.5 billion in the year 2008 and employs over 7,000 staff members worldwide.
Contact Information:
Uwe Lüders
Chairman of the Executive Board of
L. Possehl & Co. mbH
Beckergrube 38–52
23552 Lübeck
Germany
Phone: +49 (0) 451 148 – 201
Fax: +49 (0) 451 148 – 207
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