AGO AG Energie + Anlagen takes over HolSoTherm GmbH

Interest increased from 74.48% to 100% / Annual sales total almost € 1.0 million / Blocking minority no longer in effect

(PresseBox) ( Kulmbach, )
AGO AG Energie + Anlagen (WKN: A0LR41 / ISIN: DE000A0LR415) has increased its interest in the project company HolSoTherm GmbH from 74.48% to 100%. Entry into the Erfurt commercial register is pending. Both parties have agreed not to disclose the purchase price of the increase.

HolSoTherm GmbH focuses on developing energy supply systems based on wood chips. It also offers the corresponding raw material management services and consulting in the field of renewable energies. In addition, the AGO subsidiary also plans, constructs and operates selected plants in the fields of using regenerative energies, recycling and renewable resources. Including current business activities, HolSoTherm GmbH is generating positive results with annual sales of almost € 1.0 million.

Among others, HolSoTherm GmbH operates the Kölleda biomass cogeneration plants which have been providing the engine plant of MDC GmbH, a subsidiary of Daimler AG, with a sustainable heat supply since 2002. The company has also been supplying private households and an old people's home in the suburb of Kiebitzhöhe with heat from another biomass plant since 1999. In its engineering work for Daimler AG, the company was successful in reconciling its intentions and aims with regards to environmental protection with the necessity for an inexpensive heat supply of up to 6.5 MW. After expanding the energy centre, the company has been supplying the new logistics centre as well as the extended engine plant in Kölleda with heat since 2008. This is carried out on a completely carbonneutral basis using wood chips from the Thüringen region as fuel.

"We are extremely pleased with the business development of HolSoTherm GmbH. By raising our interest to 100%, we are now in a position to make quick decisions in the interest of AGO AG when it comes to addressing finance or plant expansion issues. It also avoids drawn-out negotiations with minority shareholders," explains Helmut Peetz, member of the Management Board of AGO AG Energie + Anlagen.
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