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ThyssenKrupp, REMONDIS Reach Agreement for Sale of Xervon

08/30/2011 - ThyssenKrupp AG recently reached agreement with the industrial service provider REMONDIS AG & Co. KG for the sale of the Group’s Düsseldorf-based Xervon group.

ThyssenKrupp AG has reached agreement with the industrial service provider REMONDIS AG & Co. KG for the sale of its Düsseldorf-based Xervon group.
 
Sale of Xervon, which has over 9,000 employees and achieved sales of €668 million in fiscal 2009/2010, supports ThyssenKrupp’s integrated strategic development program to reduce debt, enable growth, generate income and create value. The program encompasses portfolio optimization, change management and performance enhancement.
 
ThyssenKrupp resumed the disposal process for Xervon in October 2010, having suspended it in the previous year due to the global financial and economic crisis. The agreement with REMONDIS, which was signed on Friday, August 19, is subject to approval by the regulatory authorities and the responsible supervisory bodies.
 
Joachim Limberg, Management Board Chairman of the Materials Services business area, said the REMONDIS group was a reliable partner to take Xervon forward. “The REMONDIS group is an experienced, strongly positioned service company with strategic vision,” commented Limberg. “Xervon will be an excellent addition to the REMONDIS portfolio. This will provide security for the future of the company and its employees.”
 
Thomas Breitkopf, Chief Executive of REMONDIS AG & Co. KG, said: “We are delighted to have found the perfect strategic complement to our industrial services in Xervon. Integration into the REMONDIS group will enable Xervon to develop into Germany’s first fully integrated industrial service provider. We are very pleased with this successful addition to our group and will work with our new employees to continue and expand our growth course for the future.”
 
With 19,000 employees, REMONDIS AG & Co. KG is a major privately owned service company focused on water and recycling services. The group provides professional services to more than 20 million people and thousands of companies around the world. In fiscal year 2010 the company generated sales of €5.4 billion and has over 500 locations in 28 countries.
 
ThyssenKrupp Xervon GmbH is a leading international provider of technical services for industrial plant construction and maintenance. The company’s capabilities extend from individual services such as scaffolding, insulation, surface technology and piping, to full maintenance of processing facilities (assembly, maintenance, inspection and repair of rotating equipment, EMC equipment, valves, fittings and process equipment), to comprehensive site management including budgeting, maintenance planning and execution, infrastructure services and operating ancillary systems.
 
ThyssenKrupp, a diversified industrial group, has around 180,000 employees in over 80 countries developing ideas and innovations into solutions for sustainable progress. In fiscal year 2009/2010 ThyssenKrupp generated sales of more than €42 billion.