Bochum, Germany, 20 December 2010 – On 16 December 2010, GEA Refrigeration Technologies, of Bochum, Germany, signed a agreement for acquisition of the company Bock Kältemaschinen GmbH, of Frickenhausen, Germany, a firm until then in family ownership. In addition to its administration and production location in Germany, and a total of more than 300 staff, Bock includes an international distribution network, as well as factories in Stríbro (Czech Republic), Vadodara (India), and Hangzhou (China). After FCO clearance by the respective government antitrust offices, GEA will take over the entire staff. Agreement was reached to treat the price of the acquisition as confidential. Dr. Hugo Blaum, President of the GEA Segment Refrigeration Technologies, said, “This acquisition diversifies the portfolio of piston and screw compressors in GEA Group, and assures at the same time the continued operation of Bock.”

This strategic acquisition extends GEA Refrigeration Technologies offering of compressors by adding systems in the lower and medium performance ranges (from 5 to almost 300 m³/h refrigerant flow). Cogent factors arguing for this acquisition included – in addition to the valuable spectrum of compressors for conventional and natural refrigerants – the following aspects:  extensive awareness of the Bock brand and access to new markets. As Dr. Blaum explains, “With its refrigeration systems, Bock serves not only industrial customers, but also has key-account clients in commercial operations. It supplies systems for comfort HVAC as well as equipment for rolling stock in the railway sector, and for buses and refrigerated transport vehicles.” In addition to a harmonious amalgamation of their product portfolios, the clientele of Bock and GEA mutually complement each other:  especially since GEA Refrigeration Technologies is particularly active in the industrial field. Synergism also results with respect to sales networks:  the global representations of Bock and GEA can, beginning now, offer a more extensive spectrum of equipment and services.

GEA management forecasts a rosy future for Bock compressors:  as a result of the sustained trend toward natural refrigerants, the upper performance range will be covered by GEA ammonia compressors, and the lower to mid-range of performance, by Bock CO2 compressors. In addition, increasingly smaller compressors are being required as a result of the application of CO2:  systems with carbon dioxide can provide the same cooling duty as conventional machines, but with approximately one-sixth of the volume of refrigerant. “The future will belong to smaller, high-compression machines with natural refrigerants,” said Dr. Blaum. “The Bock expertise in the lower performance range and Bock experience in mass production are therefore highly welcome to us.”

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About GEA
GEA Group Aktiengesellschaft is one of the largest systems providers in the food and beverages industries, and in energy production. Group sales in 2009 were approximately 4.4 billion euros. As an internationally active technological enterprise, GEA Group has concentrated on process engineering and components for demanding production processes in a wide range of end-user markets. The Group generates around 70 % of its sales in long-term growth industries for food, beverages, and energy. As of 31 December 2009 the Group employed more than 20,000 staff. In its business areas, GEA Group is among the leading companies on the market and in technological developments. GEA group is listed on the German MDAX stock index (G1A, WKN 660200).

Press Relations and Public Affairs:

GEA Refrigeration Technologies GmbH – Annette Wille
Dorstener Strasse 484 – 44809 Bochum – Germany
Phone: +49 (0)234 91534 206
www.gearefrigeration.com

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Guntherstraße 19 - 80639 Munich – Germany
Phone: +49 (0)89 17 99 92 75 - Fax: +49 (0)89 17 99 92 89

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