Krones AG (KRNNF.PK,KRNTY.PK) announced its acquisition of a 26 % stake in Klug GmbH, a German company located in Teunz, Bavaria, which as a system supplier has since 1995 been supplying intralogistical solutions featuring software systems developed in-house. In view of the alliance, Krones’ Executive Board has decided to discontinue during the course of the 2013 business year the firm’s own operations in the fields of material flow technology and intralogistics, in which the company employs about 70 people. Klug will continue to offer Krones’ clients holistically conceived solutions for their intralogistical operations.
With this strategic decision, Krones’ Executive Board plans to achieve a lasting increase to its consolidated earnings.
Krones intends to upsize its stake in Klug in the medium term, with the aim of eventually acquiring a majority of the stock. This option has also been contractually guaranteed.
The company said the price for the minority holding of 26 % is in the medium single-figure million-euros range.
by RTT Staff Writer
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