BAVARIA Industriekapital sells the business activities of Fonderie du Poitou Aluminium S.A.S. to Montupet Group
Monday, 04.01.2010 -
BAVARIA Industriekapital AG announces the completion of an asset transaction where the entire business operations of the aluminium foundry Fonderie du Poitou Aluminium S.A.S. (FDPA) were sold. FDPA was, together with two other French foundries, purchased from the Teksid Group in October 2007. Buyer is a subsidiary of the French foundry group Montupet S.A.
In the period prior to being acquired by BAVARIA, the three Teksid subsidiaries suffered severe losses; totalling up to Euro 25 million per year.
“We restructured all three companies and thereby saved all the jobs. The sale of FDPA marks the completion of our re-organisation of the entire French foundry group we acquired“ explains Hans Magnus Andresen, Managing Director of BAVARIA and Supervisory Board Chairman of the French subsidiaries. BAVARIA already sold two of the three companies acquired from Teksid in 2007 and 2008, following the development of a comprehensive improvement plan.
The Munich-based holding company’s success in restoring FDPA to profitability and now selling all of FDPA’s operating assets to Montupet was once again attributable to its in-house developed and proprietary restructuring and controlling program, the “BAVARIA Operating System” (BOS): As soon as all the business processes had been streamlined, FDPA was able to achieve significant savings with regard to core-process- and quality costs, material-sourcing and overhead expenses, and was able to quickly work through the investment backlog which had been accumulated over many years during Teksid’s ownership. Additional BOS-measures implemented included innovative product development as well as the strengthening of international sales and marketing. Andresen is clearly satisfied and states: “In record time, we returned FDPA to sustainable profitability with earnings above industry average. By establishing a well structured production processes which is pro-actively managed and controlled on the basis of key performance indicators, we have safeguarded the long term competitiveness of
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