Rieter Holding AG To Discuss Proposed Acquisition of Saurer Netherlands Machinery Co BV M&A Call Transcript
Ladies and gentlemen, welcome to the media and analyst conference call. I am Sandra, the Chorus Call operator. The conference must not be recorded for publication or broadcast.
At this time, it's my pleasure to hand over to Dr. Norbert Klapper. Please go ahead, sir.
Thank you very much, Sandra. Good morning, ladies and gentlemen, and welcome to today's call in which we will update you on a very important step for Rieter. We will talk about the acquisition of 3 businesses from Saurer.
You are familiar with the fact that Saurer has been a strong competitor of Rieter for many years. In June, 2 German Saurer companies filed for insolvency, and Rieter and Saurer have been able to structure a transaction, a transaction which we published this morning. As a result, insolvency proceedings in Germany will be stopped and 3 businesses will be transferred from Saurer to Rieter.
I guess you have done the numbers already. By this acquisition, we expect Rieter to grow by more than 25% in sales and profits.
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