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[July 2001]
Geveke Acquires PMA
The Dutch trading company and service provider Geveke NV has acquired the German company Prozess- und Maschinen Automation GmbH (PMA). Established in Kassel, PMA develops and distributes system components which are used in the production automation environment. With 120 employees, the company achieves net sales in excess of 30 million euros. The acquisition has been financed with Geveke's own funds and will contribute directly to earnings per share.
PMA has operations in Germany, Austria and Holland. The German company's product range is said to provide an excellent product match for the activities of Geveke Industrial, as a result of which it will be possible in the future to supply products and know-how from Geveke Industrial's existing activities to Germany and vice versa. Geveke said that with this acquisition it has achieved substantial geographical expansion, thus significantly strengthening its pan-European strategy and position.
ENDS