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  • Dürr's automated guided vehicle ProFleet
Press Release

Dürr acquires remaining shares in Italian subsidiary CPM S.p.A.

Bietigheim-Bissingen, January 19, 2023 — The Dürr Group has acquired the remaining 49% of shares in its Italian subsidiary CPM S.p.A., thus increasing its stake to 100% with effect from December 31, 2022. The parties have agreed not to disclose the purchasing price of the recently acquired shares. This increase in shares is part of the NEXT.assembly strategy, whereby the Group has combined all activities relating to automotive final assembly technology within its Paint and Final Assembly Systems division. The aim is to unlock substantial growth potential over the next few years. Going forward, CPM will take on an even more important role in this as a competence center for turnkey final assembly projects.

CPM S.p.A., which is based in Turin (Italy), specializes in turnkey final assembly systems for the automotive industry. CPM was established in 1967 and has been part of the Dürr Group since January 1, 1999. In the 2022 fiscal year, CPM achieved sales of approximately €100 million and had around 90 employees. The recently sold company shares had been owned by the Bellezza founder family, which is now retiring due to age.

CPM as a competence center for innovative final assembly systems
Thanks to its NEXT.assembly strategy, the Dürr Group has improved its customer care and the marketing of its product range in final assembly technology. CPM has a special role in this: Dürr’s Italian subsidiary has overall responsibility for turnkey projects. The NEXT.assembly concept has been very well received by customers: During the construction of assembly lines for electric vehicles, systems have been installed that offer a high level of automation and a novel layout for different manufacturers. CPM has presented, among other things, an innovative automated guided vehicle. This automated transport system for car bodies delivers flexibility in final assembly.

Dr. Jochen Weyrauch, CEO of Dürr AG, says: “By acquiring all shares in CPM, we are making a logical business move. Our Italian subsidiary is an important part of the Dürr Group, not only in technical but also in economic terms. CPM is a renowned expert in final assembly technology and excels, above all, through its high-quality and innovative technology in systems business.”

Purchase price impacts net financial debt
A large proportion of the purchase price for the shares in CPM was already paid at the end of 2022. The cash outflow is expected to lead to an increase in net financial debt by the end of the year. However, the forecast range of between
€-75 and -125 million remains unchanged. The exact level of net financial debt will be published, along with the preliminary annual figures, on February 23, 2023. The net financial status stood at €-55.4 million at the end of September 2022. By contrast, the share acquisition has no impact on free cash flow.

The Dürr Group is one of the world's leading mechanical and plant engineering firms with extensive expertise in automation and digitalization/Industry 4.0. Its products, systems and services enable highly efficient and resource-saving manufacturing processes in different industries. The Dürr Group supplies sectors like the automotive industry, mechanical engineering, chemical, pharmaceutical, medical technology and woodworking industries. It generated sales of €3.54 billion in 2021. The company has almost 18,400 employees and 120 business locations in 33 countries. The Dürr Group operates in the market with the brands Dürr, Schenck and HOMAG and with five divisions:

  • Paint and Final Assembly Systems: paint shops as well as final assembly, testing and filling technology for the automotive industry, assembly and test systems for medical devices
  • Application Technology: robot technologies for the automated application of paint, sealants and adhesives
  • Clean Technology Systems: air pollution control, noise abatement systems and coating systems for battery electrodes
  • Measuring and Process Systems: balancing equipment and diagnostic technology
  • Woodworking Machinery and Systems: machinery and equipment for the woodworking industry

This publication has been prepared independently by Dürr AG/Dürr group. It may contain statements which address such key issues as strategy, future financial results, events, competitive positions and product developments. Such forward-looking statements are subject to a number of risks, uncertainties and other factors, including, but not limited to those described in disclosures of Dürr AG, in particular in the chapter “Risks” in the annual report of Dürr AG. Should one or more of these risks, uncertainties and other factors materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performances or achievements of the Dürr group may vary materially from those described in the relevant forward-looking statements. These statements may be identified by words such as “expect,” “want,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. Dürr AG neither intends, nor assumes any obligation, to update or revise its forward-looking statements regularly in light of developments which differ from those anticipated. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies.

Our financial reports, presentations, press releases and ad-hoc releases may include alternative financial metrics. These metrics are not defined in the IFRS (International Financial Reporting Standards). Net assets, financial position and results of operations of the Dürr group should not be assessed solely on the basis of these alternative financial metrics. Under no circumstances do they replace the performance indicators presented in the consolidated financial statements and calculated in accordance with the IFRS. The calculation of alternative financial metrics may vary from company to company despite the use of the same terminology. Further information regarding the alternative financial metrics used at Dürr AG can be found in our → financial glossary on the web page.

Andreas Schaller
Andreas Schaller
Vice President & Spokesperson
Corporate Communications & Investor Relations
Dürr Aktiengesellschaft
Carl-Benz-Str. 34
74321 Bietigheim-Bissingen
Germany
 Business Card.vcf
Mathias Christen
Senior Manager & Spokesperson
Corporate Communications & Investor Relations
Dürr Aktiengesellschaft
Carl-Benz-Str. 34
74321 Bietigheim-Bissingen
Germany
 Business Card.vcf

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