AGO AG Energie + Anlagen: Strategic stake acquired in Fittings GmbH Formstücke + Anlagen

• AGO AG acquires a 75 percent stake in Fittings GmbH Formstücke + Anlagen
• Partial expansion of production scope ensures improved internal business processes
• Move will mean increased quality and speed in operating business

Kulmbach, 8 December 2009: AGO AG Energie + Anlagen (WKN: A0LR41 / ISIN: DE000A0LR415) has acquired a majority stake of 75 percent in the Erfurt-based company Fittings GmbH Formstücke + Anlagen. The company’s business encompasses prefabricating fittings and individual components as well as on-site assembly. Fittings GmbH currently generates an average annual order volume of around EUR 1.0 million. Both parties have agreed not to disclose the purchase price of the stake.

In the past, AGO AG has worked with Fittings GmbH Formstücke + Anlagen on a number of occasions, with the Erfurt-based company prefabricating individual components for AGO’s engineering services. In 2009 alone, AGO AG placed 17 orders with a total volume of around EUR 0.6 million with Fittings GmbH.

“Purchasing a 75 percent stake in Fittings GmbH Formstücke + Anlagen represents a strategically important move for AGO AG. This partial expansion of production scope within AGO Group allows us to both improve internal business processes and ensure the successful completion of projects in the long term. On top of that, from a corporate point of view, the takeover will mean improvements in the quality and speed at which we can execute orders for power generation plants. This can help us gain a significant competetive advantage, especially in international project business,” explains Helmut Peetz, member of the Management Board of AGO AG Energie + Anlagen.

About AGO AG Energie + Anlagen

AGO AG Energie + Anlagen, with its registered office in Kulmbach, was founded in 1980 and is specialized in the area of innovative and efficient energy supply facilities for industrial customers and municipalities. Main focus of AGO AG Energie + Anlagen is laid on the following business divisions: plant development and implementation, as well as service and consulting. The core competence of the company mainly commits to thermal power stations, to heating, cooling and ventilation technology plant construction, biomass cogeneration plants and trigeneration. Site studies and development, consulting in energy efficiency, resource and fossil fuel management as well as emission trade management – these factors complete the business model. AGO symbolizes efficiency, security and technological competence of your energy supply facilities.