Acquisition Enhances the Company's Ability to Serve the European Market
QUINCY, Ill., June 1 /PRNewswire-FirstCall/ -- Gardner Denver, Inc.
(NYSE: GDI) announced today that it has acquired all of the outstanding shares
of Bottarini S.p.A., a leading packager of industrial air compressors located
near Milan, Italy, for a purchase price of approximately euro 8.1 million,
less euro 0.9 million in assumed debt.
Ross Centanni, Chairman, President and Chief Executive Officer of Gardner
Denver, said, "We are pleased to add the Bottarini brand to our growing
product portfolio. This company has built a strong presence in Italy since
its founding in 1952 and will provide us with expanded capacity and a low-cost
compressor assembly operation to better serve the European market."
Cautionary Statement Regarding Forward-Looking Statements
All of the statements in this release, other than historical facts, are
forward-looking statements made in reliance upon the safe harbor of the
Private Securities Litigation Reform Act of 1995. As a general matter,
forward-looking statements are those focused upon anticipated events or trends
and expectations and beliefs relating to matters that are not historical in
nature. Such forward-looking statements are subject to uncertainties and
factors relating to the Company's operations and business environment, all of
which are difficult to predict and many of which are beyond the control of the
Company. These uncertainties and factors could cause actual results to differ
materially from those matters expressed in or implied by such forward-looking
statements.
The following uncertainties and factors, among others, could affect future
performance and cause actual results to differ materially from those expressed
in or implied by forward-looking statements: (1) the ability to effectively
integrate Bottarini S.p.A. and (2) the list of other uncertainties and factors
set forth in the Company's Quarterly Report on Form 10-Q for the three month
period ended March 31, 2005, filed on May 10, 2005. The Company does not
undertake, and hereby disclaims, any duty to update these forward-looking
statements, even though its situation and circumstances may change in the
future.
Gardner Denver, with 2004 revenues of $740 million ($896 million on a pro
forma basis including the acquisition of Nash Elmo, which was completed in
September 2004), is a leading worldwide manufacturer of reciprocating, rotary
and vane compressors, liquid ring pumps and blowers for various industrial and
transportation applications, pumps used in the petroleum and industrial
markets, and other fluid transfer equipment serving chemical, petroleum, and
food industries. Gardner Denver's news releases are available by visiting the
Investor Relations page on the Company's website
( http://www.gardnerdenver.com ).
SOURCE Gardner Denver, Inc.
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Related links:
http://www.gardnerdenver.com
Company News On-Call:
http://www.prnewswire.com/comp/303875.html
CONTACT:
Helen W. Cornell, Vice President, Finance and
CFO of Gardner Denver, Inc., +1-217-228-8209
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