January 27, 2012 – mutares acquires EUPEC
Mutares AG, Munich, has taken over the EUPEC group of companies from the Indonesian Korindo group on January 26, 2012. EUPEC is Europe’s leading provider of coatings for oil-, gas- and water-pipelines. In 2011 the company generated a turnover of more than EUR 200 million and currently employs 120 people at four locations in France and Germany.
EUPEC supplies coatings for various on- and off-shore applications. Customers all over the world are served from the company’s headquarters in Graveline in northern France and from its German subsidiary in Muelheim. During the last three years, EUPEC has been providing all the concrete weight coating for the pipelines of the Nordstream project.
“EUPEC has proven its in-depth expertise in delivering technologically complex solutions in numerous international projects. Based on this competence we are excited to further expand EUPEC’s business”, comments Dr. Axel Geuer, founder of mutares AG and member of its executive board.
mutares AG, Munich (www.mutares.de), acquires midsized companies in whole and in part, which are sold as a result of a repositioning process at their owners and which exhibit a clear operational improvement potential. Getting engaged with its own teams, mutares actively supports its portfolio companies to generate significant value increase. The focus of the operational work is to ensure sustainable, long-term growth.
The shares of mutares AG are listed at the Open Market segment of the Berlin stock exchange (symbol: MUX, ISIN: DE000A0SMSH2).
For further information please contact:
Investor Relations & Corporate Communications
Tel. +49 89 9292776-0
Fax +49 89 9292776-22