18 JAN 2010
Bochum, January 2010 – In 2009, the GEA Group entered into a loan agreement with the European Investment Bank for EUR 150 million that expires in 2016. The loan will serve to fund research and development expenses. This move ensures that GEA can extend and grow its strong financing base at an early stage.
“This loan agreement underlines that - even in difficult macroeconomic conditions - GEA remains focused on and invests in pioneering innovations. Our research and development activities are always geared to offering our customers even more energy-efficient products for their production processes and therefore to strengthening GEA’s leading market position,” commented Dr. Helmut Schmale, CFO of GEA Group Aktiengesellschaft.
GEA Group Aktiengesellschaft is one of the largest system providers for food and energy processes with about EUR 5.2 billion in 2008 revenue. As an internationally operating technology group, the company focuses on process technology and components for demanding production processes in various end markets. The group generates about 70 percent of its revenue from the long-term growing food and energy industries. As of September 30, 2009, a workforce of over 20,000 employees served customers in 50 countries. GEA Group is a market and technology leader in 90 percent of its business areas. GEA Group is listed in the MDAX index (G1A, WKN 660200).