Düsseldorf-based GEA is exploring the possible sale of its Bock compressor business in 2020 as the company concentrates on core markets including the food, chemical and pharmaceutical industries.
Last month, GEA announced plans to divest selected activities of the Farm Technologies and Refrigeration Technologies divisions and confirmed today that GEA Bock would no longer be treated as a core business of the group.
The company employs around 300 people worldwide. Two-thirds of these work at the company’s headquarters in Frickenhausen, Germany. The company has three additional locations in the Czech Republic, India and China.
Stefan Klebert, CEO of GEA Group Aktiengesellschaft, said: “GEA Bock as a reliable partner for its customers has a strong market position and is excellently positioned with its products. Since becoming part of the GEA Group, the business has developed very encouragingly and today generates significantly more sales than when it was acquired in 2011.
"However, the time has come to make important decisions for the future of this business and in the context of the new structure of the Group as a whole. Unfortunately, the synergies in the areas of portfolio, customers and development envisaged at the time of acquisition have not materialized. This makes it difficult to sustainably develop the GEA Bock business within the GEA Group. GEA is therefore convinced that GEA Bock has significantly better development potential outside the GEA Group structure and strategy.”