Vienna, 09 October 2020 - GG Group (Gebauer & Griller) is strengthening its strategic orientation by spinning off its Elevator Division, consisting of a sales unit located at its Vienna headquarters and two production sites in Veľké Leváre, Slovakia and Bangalore, India. The future consolidation of the company's resources on growth areas of the automotive industry - e-mobility, autonomous driving and digitalization - enables a strong commitment to investing in innovation.
GG Group‘s strategic consolidation phase, which began before Covid-19, reaches its next major milestone with the now completed transfer of the Elevator Division to Lafayette Mittelstand Capital. Its new owner will continue the Elevator Division with locations in Vienna, Slovakia and India under the name of “Geba Cables”. The transaction was undertaken with focus on long-term and sustainable development opportunities for the business units targeted, the involvement of employee representatives and the preservation of all existing employee rights, thus representing a beneficial outcome for all parties involved.
"GG Group has been one of the leading producers of cables and wires for the elevator and escalator industry for 4 decades. Operating very closely with our customers and offering individual, construction-specific solutions have made this division a thriving business. For this very reason, it is important to us to have found a buyer for the Elevator Division who will be fully committed to continuing the successful course we have initiated.”, says Eva Schinkinger, CEO of GG Group, regarding the recently completed transaction.
“Since the 1970s GG’s main focus has been lying on the automotive industry, with its complex organizational requirements and demanding management systems. Therefore, it was an obvious decision to consolidate our development and sales resources in the growth area of the automotive market.”, states Holger Fastabend, CSO/CTO at GG Group. “This consolidation of strengths will enable us to remain an innovative partner for our customers while shaping new trends in the market for the future."
About GG Group (Gebauer & Griller)
We, GG Group, are a global group of companies that has been producing technically high-quality cables and wires for the automotive industry and various industrial sectors for more than 80 years. Together with our customers, we work with passion to develop innovative and intelligent solutions for their challenges.
With technical solutions, GG Group aims at high quality and the precise fulfilment of customer requirements. Quality is not only the focus of our products and processes, but also of our technical competence in advising our customers. With more than 4000 employees at 11 locations worldwide, GG Group is one of Austria's most successful family-owned industrial companies.
Contact
Dr. Irene Pfundner, MBA
Gebauer & Griller Kabelwerke Gesellschaft m.b.H.
Muthgasse 36
1190 Vienna
Austria
P: +43 1 360 20 – 0
presse@gg-group.com
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Eva Schinkinger, CEO GG Group
Holger Fastabend, CSO/CTO GG Group
GG Group Headquarters Vienna
GG Production Automotive Wiring Harness
GG Data Cable Automotive Industry
Photo Credits: GG Group.
