Legris Industries takes over CERIC-Group
[October 2006] With the signing of an acquisition agreement by the French Legris Industries Group, the sale of the CERIC Group has come to a successful and very promising conclusion. This news was released by both sides during the TBE (European Brick & Tiles Association) General Assembly meeting in Lyon on October 6th. The acquisition process should be completed by year end, pending formal approval of the European Anti-Trust commission.
As stated by Michel Rasse (77 years of age) and Jean Mérienne (76 years of age), founders and previous majority shareholders of CERIC, "this action corresponds to the desire to sell the Group to a strong industrial partner to ensure the future of the company. Legris Industries is viewed by the shareholders, the management and the employees’ representatives as the best option for the future of the CERIC Group".
The Legris Industries Group is a world leader in the fields of hydraulic & pneumatic fittings (Legris) and a major European player in automated storage, handling and order-preparation solutions (Savoye). Projected 2006 figures show sales amounting to approx. Euro 320 million, an employee count of 2220, investments in the amount of Euro 13 million, and R&D expenses reaching Euro 8 million. By taking over the CERIC Group, to which KELLER HCW belongs since the end of the year 2000, these numbers will roughly double.
At the signing of the acquisition agreement Legris Industries has already committed to an R&D amount of over Euro 4 million for innovation specific to the heavy clay business in 2007.
KELLER HCW is going to become a strong part of this new and third division of Legris Industries. "The financial, industrial, and human track-record of Legris Industries is well demonstrated, and we adhere to their ambitions, values and mission", KELLER HCW managing director Jean-Jaques Wagner and sales manager Laurenz Averbeck said. "More than ever, KELLER HCW remains the international professional in Heavy Clay Works."
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