“Market Cap $9 B As of May 2014
At a Glance
- Industry: Conglomerates
- Founded: 1881
- Country: Germany
- CEO: Juery Oleas
- Website: www.geagroup.com/en
- Employees: 17,750
- Sales: $5.74 B
- Headquarters: Dusseldorf
#1396 Global 2000
- #1519 in Sales
- #1282 in Profit
- #1914 in Assets
- #1193 in Market value
GEA Group Aktiengesellschaft is a German management holding company of the GEA Group, active as system provider for food and energy processes. It operates in six segments: GEA Convenience-Food Technologies; GEA Farm Technologies; GEA Heat Exchangers; GEA Mechanical Equipment; GEA Process Engineering, and GEA Refrigeration Technologies. The GEA Convenience-Food Technologies segment manufactures machines for the preparation, marinating, processing, slicing and packaging of meat, among others. The GEA Farm Technologies segment manufactures milking equipment, and animal hygiene products, among others. The GEA Heat Exchangers segment offers air conditioning systems, among others. The GEA Mechanical Equipment segment offers valves, pumps and separators, among others. The GEA Process Engineering segment offers process solutions for dairy, brewery, food, pharmaceutical and chemical industries. The GEA Refrigeration Technologies offers industrial refrigeration systems.”
“Chronicle of GEA
1881 – Metallgesellschaft AG (MG) established as a metalstrading company.
1882-1914 -MG becomes a global player represented on all continents.
Investments in mines and metallurgical plants.
Metallurgische Gesellschaft (Lurgi) founded.
1918 – Large proportion of foreign investments lost in the First World War.
Start of chemicals trading.
1920 – Gesellschaft für Entstaubungsanlagen (GEA), a company producing dedusting equipment, founded.
1939-1945 – Extensive destruction of MG and GEA production facilities.
1945-1980 – Following reconstruction, numerous product innovation sensure increasing commercial success.
Reconstrucction and Globalization
1989 – GEA goes public.
1991-1995 – More intense acquisition activity in GEA (including Grasso, Niro,Westfalia Separator and Tuchenhagen).
GEA sales increase to EUR 2 billion with 17,000 employees.
1992 – MG enters the field of special chemistry with the acqui-sition of Dynamit Nobel AG.
The MG Group has 63,000 employees generating sales of around EUR13 billion.
1993 – Heavy losses on oil transactions in the U.S. plunge MGinto a crisis.
1994 – Start of a fundamental realignment of the MG Groupturning it into an innovative technology group.
Up to 1996 disposal of around 300 companies in the Group.
Focus on engineering and chemicals.
1999 – Metallgesellschaft acquires GEA AG.
2000 – Metallgesellschaft AG becomes mg technologies ag.
2003 – Strategic realignment of the Group focusing on specialty mechanical engineering, especially process engineering and equipment and on plant engineering.
2004 – Disposal of the Chemicals division: sale of four of the five business units in Dynamit Nobel AG.
The new GEA
2005 – Change in company name from mg technologies ag to GEA Group Aktiengesellschaft.
Disposal of the DynamitNobel Plastics business unit.
2007 – Sale of Plant Engineering Segment.
2008 – “GEA” as corporate master brand.
2010 – GEA to streamline the group structure, centralization of all heat exchanger activities, 9 divisions become 5 segments.
2011 – Acquisition of Convenience Food Systems (CFS), headquartered in Bakel, Netherlands, and integration as today’s 6th segment “GEA Food Solutions“
*Information from Forbes.com and Geagroup.com
**Video published on YouTube by “TheGEAGroup“