Groupe Gorgé Strengthens Its Interests in the Fire Safety Sector
By Business Wire News
Groupe Gorgé announces the acquisition of the remaining capital (49%) of its subsidiary AI Group. Specialized in active fire safety for major industrial risks, AI Group has been a Group Gorgé subsidiary since 2011. It is 51% owned by Groupe Gorgé and 49% owned by its managing executives.
An agreement has recently been signed with the minority shareholders: Groupe Gorgé acquires the Company’s entire capital, whereas the two managing executives will provide the Group with operational support during the transition period, which will last until the end of 2015.
With this investment, Groupe Gorgé strengthens its commitment to the fire safety sector, a growing business within the Group which accounted for 70% of the Industrial Projects and Services division in 2014.
The full integration of the Company will firstly optimize the subsidiary’s operations, and secondly facilitate the implementation of synergies (support, business and product functions) within this division, which saw growth of more than 37% in the first quarter of 2015.
About Groupe Gorgé:
Established in 1990, Group Gorgé is an industrial group operating in different areas of expertise: Smart Safety Systems, Protection in Nuclear Environments, Industrial Projects & Services and 3D Printing
In 2014, the Group reported revenue of €223.3 million. It is backed by 1,370 employees and operations in over ten countries. Groupe Gorgé is listed on NYSE Euronext Paris (ISIN: FR0000062671; Ticker code: GOE) and on the US OTC market (ISIN: US3994511034; OTC Pink: GGRGY / GGRGF) in the form of ADR.
More information available on www.groupe-gorge.com
Nathalie Lagos, Tel : +33 1 44 77 94 77