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CROSS Industries AG takes over the majorityof Austria Email AG

28.08.2007 - Wels/Knittelfeld: CROSS Industries AG has acquired 38.5% of Austria Email AG, listed at the Vienna Stock Exchange, through the participation SARPEDON Management Consulting GmbH & Co "AEAG" KEG holds in this company. Due to this purchase and through its interest in Unternehmens Invest AG, which still holds a participation of 23.08% in Austria Email AG, CROSS Industries AG has become the majority shareholder of the company.

Enlargement of the holding group
With the participation in Austria Email AG, CROSS Industries AG further enlarges its holding group and supports the successful business model of the company. The CROSS group is already majority shareholder of the following companies listed in the Prime Market of the Vienna Stock Exchange: KTM Power Sports AG, Unternehmens Invest AG and Pankl Racing Systems AG*, as well as of Eternit Werke Ludwig Hatschek AG (80%) and gains a turnover of over € 900 million p.a. with an average of around 3,400 employees.
 
Austria Email – Specialist for enamelled water heaters and water heating technique
The company from Knittelfeld, listed in the Third Market of the Vienna Stock Exchange has earned a turnover of € 64.6 million and an EBITDA of € 6.9 million with an average of 340 employees in the last fiscal year. A planned large investment in the manufacturing of buffer storage tanks will secure the location of the headquarter in Knittelfeld.
 
*) over 50% of the voting rights

 

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