Meteor Closing



After signing an agreement between the shareholders of Meteor and the Ruia Group with regard to the sale of all shares in Meteor in May 2011 all conditions precedent (e.g. cartel clearance) for the closing of the deal are now fulfilled and a closing has occurred on 7 October 2011. On the closing, the Parties have executed all necessary actions and agreements to implement and finalize the transaction. The more symbolic purchase price and immediately agreed capital injection has been paid and the management of Meteor and the Ruia Group will now start working together on a joint approach to the market immediately whereas the necessary integration process will take some months to be completed. For the successful post merger integration, continuous contributions and support - as in the past - from all Meteor stakeholders are required, in particular from the financing institutions, customers and employees.

Meteor and the Ruia Group deeply appreciates the special support of the State Government of Lower Saxony and Thuringia in concluding the transaction.


Meteor has 2,445 employees on its payroll and grossed revenues of Euros 222 million in 2010.


Apart from Germany, Meteor has presences in the markets of the Czech Republic and the US and caters to iconic automobile manufacturers like BMW, Daimler, Audi, Rolls Royce, Porsche, Renault and others.

Commenting on the development, Mr. Pawan K Ruia, chairman of the Ruia Group, said: "The acquisition is in line with our group´s policy of consolidating the automotive sealing business. True, it comes at a difficult time when the world economy is not shining at its best, but we are confident that this will also be overcome soon and our philosophy of gaining the best technology partners will be suitably rewarded."


Commenting on the development, Dr. Thorsten Bieg, trustee and majority shareholder, said : "I am happy that Meteor will now have a good future and the management of Meteor and Ruia Group will work in tandem with the support of other stakeholders for the growth of Meteor."
 
Author:
Date: 2011-10-10
Source:
 


 

Apprenticeships and training at Meteor in Bockenem



These days, comprehensive, good-quality training is the most important factor in achieving a good future. If you want to get off to a successful start right from the beginning of your career, join the Meteor team! You will find that we are outstanding in all of the areas in which we offer apprenticeships and training. A company with global operations, we produce high-tech sealing systems and components for the automotive industry, aircraft and rail vehicles, and many other technical applications. To do so, we are looking for young people who are interested in a dual study course culminating in the degree of Bachelor of Engineering, have already chosen mechatronics technician, process mechanic, or machinery and systems operator as a technical vocation, or wish to embark on a career in business as management assistants in industry. Meteor offers you the very best conditions to get a running start on your career. Alongside practical, vocation-specific fundamentals, we will also provide you with knowledge about Meteor and theoretical know-how as part of our in-house seminars. We also offer room for development of creative solutions to real-world issues within the company, as part of our team of apprentices. By participating in interdisciplinary projects, you will get to know the structural connections and specific work requirements at our company and experience team processes in practice. Your trainers will supervise you individually and foster your talents on a targeted basis. We also offer you the opportunity to get a glimpse at the bigger picture during your training, by participating in cooperative projects with partners such as the Lammetal-Werkstätten facility for the disabled and schools that provide access to further education. But we also have some expectations for our future apprentices and student trainees in dual programs! Dedication, commitment, and a thirst for knowledge are important to us, as are good school grades. A well-developed ability to work as part of a team and a good sense of responsibility are required, since at Meteor, both aspects are more than just words ? they?re part of our everyday work. We are now accepting applications for apprenticeships starting in August 2012. For more information on apprenticeships and training and online application options, please visit the career section of our website at http://www.meteor.de. We look forward to hearing from you!
 
Author:
Date: 2011-09-09
Source: Hildesheimer Allgemeine Zeitung
 


 

Technical solution helps conserve energy

Meteor achieves six-digit savings
 


How can we conserve energy, and how can we reduce costs as we do so? The issue is a major area of focus right now, not just for many private individuals, but also for a large number of companies. Costs are one factor, but another reason for the increased attention is Germany?s plan to discontinue its use of nuclear power and the discussion surrounding what that will mean for Germany as a site of industrial operations. Among those considering this question is Bockenem-based Meteor Gummiwerke, the biggest industrial operation in the entire district and a major consumer of both electricity and gas. And while it is likely to stay that way, the company hopes to manage on considerably less energy in the future. The company, which is based in the Ambergau region, most recently made headlines largely due to the takeover by the Ruia Group, from India. But even as this development was taking place, Meteor was at work with energy provider e.on Avacon, pushing ahead with a project that is intended to generate savings in the six digits each year. At annual sales volume of 221 million euros, that might seem like a drop in the bucket. But, as Meteor hopes, it will be a steady drop ?" and perhaps even serve as an example to other companies. The project started out with an analysis, for which Meteor brought grid operator e.on Avacon on board. The first step was for the energy provider?s experts to examine the flows of energy within the plant. That was no easy task, since after all, the company has grown ?organically? at the site over decades, and the same is true of its electricity and gas circulation systems. ?A comprehensive analysis of consumption within the company is the key to any solid energy management system. Once we have that information, we can pinpoint key indicators and map out possible measures to take,? explains Harms Bartölke of e.on Avacon. ?The topic of energy efficiency will continue to grow in importance over the years and decades to come.? The parties responsible at Meteor agreed. ?As a company, we face increasing pressure to reduce the costs of our products,? explains technical manager Steffen Weber. ?Producing our seals, which are used primarily in the automotive industry, is energy-intensive. Even small measures are felt quickly,? Weber says. Thirty individual measures, described as ?shifts and technical improvements of various kinds,? have now been put in place at Meteor, which, the company says, has invested less than 90,000 euros to do so. Every year, though, the new steps should help the company save several hundred thousand euros. But the project is supposed to go even further; e.on has found a way to log the consumption data for all connections and put that information on screens in front of the relevant managers at Meteor, ?live.? That is an important way to help with future energy calculations, as Weber emphasizes. In that regard, Meteor could in fact serve as an example. Industrial plants, in particular, should come to focus increasingly on choosing their energy providers not only by the price per kilowatt-hour, but also according to the service they provide in terms of energy ?" and with it, saving costs.
 
Author:
Date: 2011-05-27
Source: HiAZ 27.05.2011