Buderus AG
Buderus strengthens market presence in eastern Europe
Corporate-news announcement sent by DGAP.
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Buderus strengthens market presence in eastern Europe
Acquisition of the Czech market leader, Dakon
Wetzlar, November 24, 2003 Buderus Heiztechnik GmbH, a subsidiary of Buderus
AG, has acquired the leading Czech provider of heating products, Dakon s r.o.,
making Buderus the market leader in this important eastern European market.
Buderus has initially acquired 87% of the shares in Dakon. The remaining 13%
will be acquired in a second step at the beginning of 2004.
Dakon employed 370 people and generated sales of EUR 25 million in 2002. The
companys activities focus on wall-hung boilers and solid fuel boilers, which are
manufactured in two modern production plants in the Czech Republic.
Following the acquisition of Buderus by Robert Bosch GmbH in July 2003, the
Bosch Group now markets the Dakon, Buderus and Junkers brands in the Czech
Republic. The acquisition of Dakon significantly expands Boschs market presence
in the Czech Republic, especially in the growing segment of wall-hung boilers.
All three brands will further develop their existing distribution structures.
While Buderus will expand its own wholesale distribution and maintain its direct
supply to plumbers and fitters, Dakon and Junkers will continue to market their
products through independent wholesalers in the Czech Republic.
As in other European countries, the trend to replace older conventional boilers
with modern wall-hung condensing boilers is expected to continue in the Czech
market. The Bosch Group is a leading provider of condensing boilers in Europe.
The acquisition gives the company access to the large number of installed Dakon
products in the Czech Republic, some 50% of which will become due for
replacement in the next years. Mutual sourcing of components is expected to
generate additional synergies.
The management of Dakon s r.o. welcomes the acquisition by Buderus as an
important step in the companys continued positive development on the converging
European market.
Buderus (ISIN: DE0005278006) is a leading European manufacturer and wholesaler
of heating products. Building on over 270 years of experience, Buderus develops
solutions which consistently optimize the energy utilization ratio in the
residential sector. Buderus continues to expand its leading position in this
growth market. The company is also a leading supplier of castings and special
steel products in attractive niche markets. Buderus is a company of the Bosch
Group.
This press release is available at http://www.buderus.de.
end of message, (c)DGAP 24.11.2003
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WKN: 527800; ISIN: DE0005278006; Index:
Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime
Standard), Hamburg und München; Freiverkehr in Hannover und Stuttgart
240734 Nov 03
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