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  GROUPE GORGE company press release from 20/06/2019

  20/06/2019 - 08:00

Groupe Gorgé announces its plan to sell one of the subsidiaries of the Protection of High-Risk Installations division


Groupe Gorgé has entered into exclusive negotiations with SPIE to sell the Cimlec group, a subsidiary of the Protection of High-Risk Installations division. Cimlec and its subsidiaries have 310 employees. In 2018, the divested scope generated revenue of around €42 million.

Cimlec is a long-standing subsidiary of Groupe Gorgé, specialist in design, manufacturing, installation and maintenance of robotic, electrical and automation solutions. Its businesses offered fewer synergies with the Group's other businesses, which have evolved significantly over recent years.

Cimlec group's expertise would strengthens the areas of development of SPIE, which has identified strong complementarities with Cimlec. This planned disposal should bolster the company's growth, and all sites and employees will be integrated in SPIE's strategy to develop services for industry.

Groupe Gorgé and SPIE aim to complete the contemplated transaction by July 2019, after having obtained the opinion of employee representative bodies.

This potential disposal would have a significant impact on Groupe Gorgé's financial statements. The disposal capital gains would increase net income for the 2019 financial year by more than €20 million.

 

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 C
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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