Rheinmetall DeTec sells Heidel group
A further step in DeTec’s ongoing concentration on core competencies
02/26/2004
With retroactive effect on January 1st 2004, Rheinmetall DeTec AG of Ratingen, Germany, Europe's leading supplier of ground forces equipment, has sold the civil sector-oriented Heidel group to FRIMO Beteiligungs GmbH of Lotte, Germany. The parties to the contract have agreed that the sale price should remain confidential.
For Rheinmetall DeTec, a subsidiary of Düsseldorf-based Rheinmetall AG, this disposal of a peripheral, civil-sector enterprise marks a further step in the company's process of concentrating on its core competency of ground forces technology, a field in which the DeTec group generated sales of approximately €1.6 billion in 2003.
Heidel, a maker of machines and machine tools, became a member of the Rheinmetall DeTec group of companies following Rheinmetall's acquisition of the Dutch Eurometaal group in 1998. The company manufactures equipment for producing non-metallic interior components for the automotive industry. Aside from the towns of Viersen and Lotte in the German state of North Rhine-Westphalia, Heidel has locations in France and the United States; in 2003, the company's 456-strong workforce generated sales of approximately €104 million.
The FRIMO group is a market leader in the field of high-quality plastics technology, supplying systems used in the production of all types of non-metallic automobile interior components. With 950 employees worldwide, FRIMO generated sales of around €115 million in 2003.
Contact
Rheinmetall AG
Corporate Sector Defence
Press and Information
Oliver Hoffmann
Rheinmetall Platz 1
40476 Düsseldorf
Germany
Phone: +49 211 473-4748
Fax: +49 211 473-4157
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