Groupe Gorgé announces the acquisition of the remaining capital (49%) of its subsidiary AI Group. Specialized in active fire safety for major industrial risks, AI Group has been a Group Gorgé subsidiary since 2011. It is 51% owned by Groupe Gorgé and 49% owned by its managing executives.
An agreement has recently been signed with the minority shareholders: Groupe Gorgé acquires the Company's entire capital, whereas the two managing executives will provide the Group with operational support during the transition period, which will last until the end of 2015.
With this investment, Groupe Gorgé strengthens its commitment to the fire safety sector, a growing business within the Group which accounted for 70% of the Industrial Projects and Services division in 2014.
The full integration of the Company will firstly optimize the subsidiary's operations, and secondly facilitate the implementation of synergies (support, business and product functions) within this division, which saw growth of more than 37% in the first quarter of 2015.
This press release could contain statements on past events and forward-looking statements including statements regarding future goals or targets. Forward-looking statements reflect current expectations for results and future events.
Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that may cause actual results, performance or events to differ materially from those anticipated herein. All these risks and uncertainties could affect the Group's future ability to achieve its targets. Risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements and targets include, among other things: the risks and uncertainties possibly mentioned in this press release; the strength of competition; the growth of the market; currency fluctuations; interest rate fluctuations; raw materials and freight price fluctuations; armed conflicts or political instability; control of costs and expenses; changes in tax legislation, rules, regulation or enforcement; our ability to successfully keep pace with technology changes; our ability to attract and retain qualified personnel and key-men; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; supply chain bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.).
Some of these risk factors are set forth and detailed in our Document de Référence (Registration Document including the annual financial report filed with the French Autorité des Marchés Financiers). This list of risks, uncertainties and other factors is not limitative. Other non-anticipated, unknown or unforeseeable factors could also have material adverse effect on our targets. The Group expressly disclaims any obligation or undertaking to update or revise any forward-looking statements or targets potentially contained in this press release to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based.
About Groupe Gorgé
Established in 1990, Group Gorgé is an industrial group operating in different areas of expertise:
Smart Safety Systems – Using technology to work in risk environments;
Protection in Nuclear Environments – Protecting people and securing buildings operating with radioactive materials;
Industrial Projects & Services Conducting Robotics and Fire protection systems projects for industry and service-sector player;
3D Printing – Enabling major industry players to find new routes to successful innovation and production processes by providing systems, 3D printers and new premium material.
In 2014, the Group reported revenue of €223.3 million. It is backed by 1,370 employees and operations in over ten countries.
More information available on www.groupe-gorge.com
Groupe Gorgé is listed on Euronext Paris and on the US OTC market in the form of ADR.
NYSE Euronext Paris:
ISIN code: FR0000062671
Ticker code: GOE
US OTC market:
CUSIP NUMBER: 399451 103
ISIN NUMBER: US3994511034
Ticker Code: GGRGY / GGRGF
Groupe Gorgé - Raphaël GORGÉ – Président Directeur Général - Tél. : 01 44 77 94 77 - E-mail : email@example.com
Actus Finance - Anne-Pauline PETUREAUX - Relations Analystes/Investisseurs - Tél. : 01 53 67 36 72 - E-mail : firstname.lastname@example.org
Actus Finance – Jean-Michel MARMILLON - Relations Presse - Tél. : 01 53 67 36 73 - E-mail : email@example.com
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