Brückner acquires 100% of Kiefel AG

Brückner Group, Siegsdorf and JM Gesellschaft für industrielle Beteiligungen mbH & Co. KgaA, Worms, announced today that effective 01 January 2007 all shares of Kiefel AG, located in Freilassing and active in various fields of plastics machinery, have been transferred to the Brückner Technology Holding GmbH. As of 01 January 2007, Brückner Technology Holding GmbH functions in the capacity of a holding company for the entire Brückner Group. With a staff of nearly 650 employees, Kiefel AG has a consolidated sales figure of approx. EUR 120 million in its 12 domestic and foreign locations. At the headquarter in Freilassing production and special-purpose machines for plastics processing in the automotive, medical and packaging industry are manufactured, whereas Kiefel in Worms is specialized in blown film extrusion systems and film winders for the packaging industry. Kiefel`s equipment is sold through a global network in over 60 countries. Both business units are among the worldwide leading suppliers in their respective fields. The takeover of Kiefel is a significant step for Brückner to further strengthen the strategic development of the Group. The principal aim is to open new expanding markets with innovative products of a high technological level in the field of plastics machinery. The Brückner Group achieves an annual turnover of about EUR 200 million with its approx. 600 employees in 14 companies in Germany and abroad. Brückner Group comprises: Brückner Maschinenbau, worldwide leading supplier of film stretching lines; Brückner Formtec, successful within the field of cast film lines, as well as Brückner Servtec which offers a wide range of service products and Brückner Biotec, which is actively involved in the growing market for biogas plants. With this step the JM Gesellschaft für industrielle Beteiligungen, which is mainly made up of the companies Renolit AG and the RKW AG Rheinische Kunststoffwerke with a group turnover in excess of EUR 1.5 billion, will focus its business activities on manufacturing and selling plastic foils, with the aim to develop the worldwide foil business further and even more intensively than in the past. By changing from the previous group of companies to Brückner, Kiefel will gain additional market potentials. Although Brückner will continue to develop Kiefel in a decentralized manner within the framework of its own corporate structure, it shall also benefit from considerable synergy potentials together with Kiefel in the future. This applies in particular to the combination of product programs and the joint use of sales and production platforms in Asia, Eastern Europe and the USA. In the words of Brückner Technology Holding management: "As a company acting globally with a strong brand and sound customer relationships, Kiefel fits perfectly into the growth-strategy of Brückner. We are looking forward to continuing Kiefel's long-term development as an innovation leader." Kiefel management sees this reorientation in an absolutely positive light: "Both groups of companies have established themselves, as far as innovation, technology and quality goes, a long time ago as the best in the world within their fields. Together we will be able to strengthen our position even further." And the management of JM Gesellschaft für industrielle Beteiligungen adds: "We are convinced that the customers will benefit significantly from this transaction and that it will give Kiefel positive long-term prospects for the future." (Press Release)