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| Lübeck, 7 June 2004 – As of 1 July 2004, once the Drägerwerk AG Supervisory Board has given its approval and the necessary conditions are in place, Groß Sarau-based Concord GmbH Industrial Holdings will take over Dräger ProTech GmbH and its 285 staff. The company is active in the areas of galvanization, machining technology and assembly. Over the past 12 months, Dräger has already been sharpening its focus on its core fields of business, Dräger Medical and Dräger Safety, and offloading its service companies. The sale of Dräger ProTech signals the end of this process. The contractual parties agreed to treat all details of the takeover of Dräger ProTech GmbH as strictly confidential.
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| Concord GmbH Industrial Holdings holds interests in industrial companies specialized in the three aforementioned areas of galvanization, machining technology and assembly, particularly those which supply services to the automotive industry and already have customer orders. |
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| In selling ProTech, Dräger is following the same approach it did in 2003, when the ProTech metalworking and plastics production departments were sold to two specialists in these fields. From the way these two departments have developed, it is clear that this was the right decision: shorter working hours were no longer necessary and jobs in Lübeck were saved and created. |
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| "We can all be satisfied with this solution“, explains Hartwig Pfeffer, general manager of Dräger ProTech GmbH. Dräger ProTech will become part of a group of companies which all share the same core competences. With additional know-how, resources and market knowledge, Dräger ProTech will have more chance of acquiring new customers in addition to its current mainstays of Dräger Medical and Dräger Safety, thus enhancing its competitiveness and helping to ensure the company has a bright future. At the same time, Dräger Medical and Dräger Safety will continue to benefit from having a reliable supplier close by. |
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(c) Drägerwerk AG & Co. KGaA, 2007 |
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