Georg Fischer strengthens its position in building technology
Georg Fischer AG, Schaffhausen, Switzerland, is to acquire the entire capital of JRG Gunzenhauser AG (JRG) in Sissach, Switzerland. JRG is a leading provider of domestic and heating-water supply systems in Europe. It has an excellent market position and smoothly organised distribution channels primarily in Switzerland, southern Germany and Austria. The acquisition of JRG is an important strategic step for GF Piping Systems and substantially strengthens its position in the building technology market. Subject to approval by the antitrust authority, the transaction should be completed in the third quarter of 2008. The parties have agreed to keep the sale price confidential.
JRG Gunzenhauser AG, founded in 1887 and with headquarters and production in Sissach, Switzerland, has 400 employees. It generated sales of CHF 110 million in 2007. The company, with its well-known product lines Sanipex Classic, Sanipex MT and the appropriate mountings and valves, is a trendsetter in drinking water supply systems. Thanks to its innovative product range and its leadership in the German-speaking market, JRG is the ideal partner for GF Piping Systems.
The management and shareholders of JRG Gunzenhauser AG are therefore pleased to hand over a powerful company to a Swiss corporation which will draw on this strength in a globalised economy to ensure a secure and successful future both for the name JRG and for Sissach as an industrial location.
GF Piping Systems is a world-leading provider of piping systems made of plastic and metal for the transport of water, gas and other liquids in industry, utilities and building technology. The company employs over 3,000 people in more than 100 countries and generates sales of over CHF 1 billion.