R. STAHL consistently expands its market position in Russia. The German company R. STAHL acquires an interest of 25 % in Russian company ZAVOD Goreltex, in the context of a capital increase. ZAVOD Goreltex is number two in the Russian explosion protection market. With this investment, R. STAHL lays the foundations for additional growth in Russia. ZAVOD Goreltex is located in Saint Petersburg and today has the sales offices in Saint Petersburg, Tyumen, Perm, Khabarovsk and also in Belarus and Kazakhstan. The Russian company has 23 years of experience in explosion protection and is one of the leading players on the Russian explosion protection market. Goreltex is a manufacturer of explosion-protected equipment, with two large manufacturing sites in Saint Petersburg and Tyumen. The company has grown strongly in recent years. With the capital increase provided by R. STAHL, the production facilities in Saint Petersburg will be extended.
"We have monitored the development in the Russian market and we are convinced that the market will have great potential in future. Investment in company Goreltex will grant us easier access to the Russian market to strengthen and to expand R. STAHL's position", says Martin Schomaker, CEO of R. STAHL AG, about the reasons for the investment. "Though the German-Russian relations are currently strained, we expect them to stabilize in the long term so that commercial business will be promoted", Bernd Marx, CFO of R. STAHL AG, elaborates. Due to the current European embargo policy, Russian companies are urged by their government to prefer the products manufactured in the territory of the Russian Federation instead of foreign manufactures. This strongly increases growth of the Russian manufacturers including manufacturers of Ex-products. Through the application of the German products in the equipment produced in Russia, the product range of ZAVOD Goreltex will be significantly extended. Through the investment, R. STAHL will take part in the development of the Russian company.
About R. STAHL - www.stahl.de
R. STAHL is the world's leading supplier of electrical and electronic products and systems for explosion protection. These products and systems prevent explosions in hazardous areas and contribute to the safety of people, machines and the environment. The portfolio ranges from products used in switching/distributing, installing, operating/monitoring, lighting and signalling/alarming up to automation. Typical customers are the oil & gas industry, the chemical and pharmaceutical industry and the food industry. In 2015, global sales amounting to EUR 312.9 million were generated with 1,894 employees. The shares of R. STAHL AG are traded on the Regulated Market/Prime Standard of Deutsche Boerse (ISIN DE000A1PHBB5).
R. STAHL AG
Am Bahnhof 30, 74638 Waldenburg (Württ.)
Bernd Marx (CFO)
Phone: +49 7942 943 1271
Carmen Kulle (Investor Relations)
Phone: +49 7942 943 1395
E-mail: [email protected]
2016-09-16 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
|Company:||R. Stahl AG|
|Am Bahnhof 30|
|Phone:||+49 (7942) 943-0|
|Fax:||+49 (7942) 943-4333|
|Listed:||Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange|
|End of News||DGAP News Service|