Marel hf. - Company Announcement

Marel acquires part of Carnitech’s activities

Marel has reached an agreement with the administrator of the Carnitech A/S
estate to acquire Carnitech's mixing and grinding activities, following its
bankruptcy on 21 June 2013. The amount of the transaction is approximately EUR
1.5 million. Although the transaction is small in size, the acquired part of
the Carnitech operations is a good strategic fit to Marel making the company's
market position stronger. 

Prior to its bankruptcy, Carnitech was in the ownership of American Industrial
Acquisition Corporation (AIAC) - a privately held industrial group who acquired
it from Marel in 2010 (see here:
http://marel.com/corporate/investor-relations/investor-news/marel-announces-sale
-of-operations-of--carnitech-a-s-in-stovring/923). 

“The mixing and grinding activities fit well with Marel's strategy of being the
customer's choice in the industries the company operates in - fish, meat,
poultry and further processing. From our previous ownership of the company we
know that there are good capabilities at Carnitech which will enable us to
serve our customers even better and provide them with complete processing
solutions”, says Sigsteinn Gretarsson, Chief Operating Officer of Marel. 

By adding the mixing and grinding products to its portfolio, Marel strengthens
its offering in the meat and further processing markets as Carnitech was a
strong supplier of mixing and grinding equipment. Following the transaction,
Marel will be able to offer positions to a very limited number of former
Carnitech employees, matching the mixing & grinding activity. 


For further information contact:

Helga Björk Eiríksdottir, Investor Relations Officer, tel. +354 853 8543,
e-mail: helga.eiriksdottir@marel.com. 

Sigsteinn Gretarsson, COO, tel. +354 563 8000.


About Marel

Marel is the leading global provider of advanced equipment, systems and
services to the fish, meat and poultry industries. With offices and
subsidiaries in more than 30 countries and a global network of more than 100
agents and distributors, we work side-by-side with our customers to extend the
boundaries of food processing performance. Advance with Marel for all your
processing needs.