Holvrieka takes over major parts of the Ziemann Group

Holvrieka Holding B.V., a subsidiary of CIMC Enric Holdings Ltd., is pleased to announce the successful completion of the takeover of the Ziemann operations in Ludwigsburg/Germany and the manufacturing facilities in Bürgstadt/Germany as well as of the sales offices in Miami/USA, Johannesburg/South Africa, Moscow/Russia, Bangkok/Thailand, Hanoi/Vietnam and Sydney/Australia. These activities will be merged into a new company named “Ziemann International GmbH” registered inLudwigsburg/Germany which is fully owned by Holvrieka Holding B.V. The parties have agreed to maintain confidentiality regarding the purchase price.

Previously, the insolvency proceedings, initiated in June, were opened by the district court in Ludwigsburg, making the sale within the framework of a transferable restructuring possible. The Ziemann companies in Sarre Union/France, Pfatter/Germany, Pune/India and Porto Alegre/Brazil are not part of the agreement.

The business activities which were continued within the framework of the preliminary insolvency proceedings, will be seamlessly passed over to the buyer as of 17 August 2012. “Within the framework of the continuation of the business during the insolvency proceedings, we have been able to retain all contracts and to continue business activities. This was an essential precondition for the positive course of the contract negotiations and a swift agreement with the Holvrieka Group” said Tibor Braun, Ziemann insolvency administrator. Trierweiler, Managing Director for commercial business activities added “With this transfer to the Holvrieka Group, and the successful completion, this is the last decisive step in the restructuring process of the German subsidiaries, which began in autumn of last year”.

As part of CIMC Enric’s business, Ziemann will benefit from the Group’s competitive infrastructure and state-of-the-art manufacturing facilities in China, which will strengthen the market position. Peter van der Burg and Ko Brink, Managing Directors of Holvrieka Holding B.V., expect positive effects from the takeover: “We expect synergies to be achieved within all areas, including development, production, logistics, marketing and distribution. Although Ziemann and Holvrieka have separate histories, they have always shared a common objective: to ensure absolute customer satisfaction”, Peter van der Burg emphasizes. “We remain dedicated to this objective, now, that we are working together. The existing sales, service and support contacts of Ziemann remain unchanged.”

According to him, the takeover enables Ziemann to continue with new strength. Last year, the brewery plant manufacturer generated a total output of EUR 170 million. Thus, Ziemann belongs to the world’s largest manufacturers and suppliers of brewery plants. Van der Burg: “We take pride in our long-lasting customer relationships and our reputation as a company, on which you can rely. This will not change.” Ziemann will continue working hard to earn the business and trust of its customers. Van der Burg stresses: “We want to personally thank all of our customers for their loyalty and support.”

The Holvrieka Group is located in Emmen, the Netherlands. The company is engaged in the design, development, manufacturing and engineering of stainless steel process and storage tanks, according to customer specifications, for the energy, chemical and liquid food (including beer, fruit juice and milk) industries. In 2007, Holvrieka has been acquired by CIMC Group. In 2009 Holvrieka became part of CIMC Enric Holdings Limited, a company listed on the main board of the Hong Kong Stock Exchange with 7.500 employees in total. The group has five operating subsidiaries in Europe ( the Netherlands, Denmark, Belgium) and China.

Tibor Braun added “It is now essential to find solutions for the remaining foreign subsidiaries in India, France and Brazil. The sale of Ziemann-BMS Maschinenfabrik GmbH in Pfatter, Germany, which also belongs to the Group, is currently being concluded.”