Ceepackaging

Corporate

Private investment group completes acquisition of Rovema

Effective 31st October the transaction was completed and was led by The Jacoby Group, an American investment group who gained the participation of an American private investment family as major shareholder, who owns several medium sized companies across different industries.

The major shareholders will personally present themselves to the employees during the first quarter of 2008 in connection with a company gathering and party.

The acquisition of the company includes ROVEMA Verpackungsmaschinen GmbH, as well as of all related worldwide subsidiaries, including the manufacturing sites in Spain and U.S.A.

Mr. Krämer, who had been the president of the American subsidiary ROVEMA US, LP, has been named chief executive officer (CEO) of RGPG. He is joined by Mr. Constantine Dantoulis, the Group’s chief financial officer, as well as existing members of the management board of ROVEMA Verpackungsmaschinen GmbH, Mr. Schütz and Mr. Embert, who together will lead the new company.

“The name change signifies a renewed vision for ROVEMA and our quest to become a global packaging group, as well as our commitment to innovation and delivering best-in-class products and services”, said Klaus Krämer. With the new financial backing afforded through this acquisition, combined with our solid management team, ROVEMA is poised for long-term global growth.”

In order to live up to the demands of global growth, ROVEMA will continue to focus on developing innovative packaging solutions as well as continue its manufacturing excellence .

By coordinating and aligning all companies belonging to the ROVEMA Group ROVEMA will be in the position to expand into new markets and allow a first-class customer support. In addition, the new solid financial foundation of the new shareholders will enable a worldwide expansion into new key markets and technologies.

Mr. Krämer added: ”We would like to thank Dr. Walter Baur, the company’s previous owner, for 28 years of market growth and technology leadership. We are looking forward to his continued assistance as Chairman of the new ROVEMA advisory board.”