Groupe Gorgé today announces the closing of the sale of 100% of Cimlec and its subsidiaries (Cimlec group) to SPIE.
The Cimlec group is a specialist in robotic, electrical and automation solutions. The group generated in 2018 revenue of €42 million. This long-standing business of Groupe Gorgé offered fewer synergies with the Group's other businesses. Joining SPIE will enable the Cimlec group to develop and integrate SPIE's strategy to develop services for industry.
The disposal capital gains will increase net income for the 2019 financial year by more than €20 million.
This operation, in addition to the reorganization of the capital of the Fire Protection France business announced on June 25, are resulting from the group's strategy to focus its human and financial resources on technological activities in which the group recorded significant successes.
The important financial resources generated by these two operations (more than €33 million in cash) may be allocated to the development of new technological activities. Alternatively, they could also be used to strengthen the control of the robotics or 3D printing activities depending on market conditions.
| About Groupe Gorgé Founded in 1990, Groupe Gorgé is an independent group that specializes in high-tech industries. Today, the Group is active in the fields of security and protection in extreme environments, as well as in the 3D printing sector. In its more than twenty-five-year history, Groupe Gorgé has always developed and driven the latest technological and industrial innovations. Smart Safety Systems: Developing complete, innovative technological solutions for complex missions in hostile and confined environments. Protection of High-Risk Installations: Protecting people and ensuring the active and passive protection of installations for energy markets and industrial and tertiary sectors in France. Ensuring the maintenance of these protection systems. 3D Printing: Enabling major industry players to find new routes to successful innovation and production processes by providing 3D printers, premium material, software and 3D printed parts. In 2018, the Group reported revenue of €296 million. It is backed by 2,000 employees and operations in six countries. More information available on www.groupe-gorge.com Groupe Gorgé is listed on Euronext Paris Compartment B ISIN code: FR0000062671 Ticker code: GOE Investor contacts: Anne-Pauline Petureaux Investor Relations Tel: +33 1 53 67 36 72 E-mail: apetureaux@actus.fr Press contacts: Romain Griere Press relations Tel: +33 1 53 70 05 46 E-mail: rgriere@image7.fr Manon Clairet Financial press relations Tel: +33 1 53 67 36 73 E-mail: mclairet@actus.fr |
Disclaimer
GROUPE GORGE press releases may contain forward-looking statements regarding GROUPE GORGE's targets. These forward-looking statements reflect GROUPE GORGE's current expectations. Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that could cause actual results, performance or events to differ materially from those anticipated herein. The risks and uncertainties that could affect the Group's future ability to achieve its targets include, in addition to those indicated in the press release: the strength of competition; the development of markets in which the Group operates and notably the 3D printing division; currency fluctuations; obtaining the export authorizations that may be required for certain activities; control of costs and expenses; changes in tax legislation, laws, regulations or their enforcement; our ability to successfully keep pace with technological advances; our ability to attract and retain qualified personnel and key staff; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; manufacturing and supply chain bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.). Some of these risk factors are set forth and detailed in our Document de Référence (Registration Document including the annual financial report filed with the French Autorité des Marchés Financiers), available on our website www.groupe-gorge.com. This list of risks, uncertainties and other factors is not limitative. Other unanticipated, unknown or unforeseeable factors, such as changes in the economic situation or financial markets, could also have a material adverse effect on our targets.
This press release and the information it contains do not constitute an offer to sell or to subscribe, or a solicitation to purchase or subscribe shares or securities in GROUPE GORGE or in its listed subsidiaries in any country whatsoever.
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