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February 09 - GEA Continues to Extend Food Freezing Business

Bochum/'s-Hertogenbosch, February 3, 2009 - GEA Group Aktiengesellschaft acquires the second company in 2009 within its Refrigeration Division by taking over Intec USA, a leading supplier of carton freezing and chilling systems headquartered in Durham, North Carolina, USA. In 2008, Intec generated sales of approximately EUR 8 million with a workforce of about 20 employees.
The acquisition took effect on January 30, 2009.
The acquisition of Intec emphasizes the strategy of GEA Refrigeration to acquire companies which complement GEA Refrigeration's technological or geographical product portfolio. Cooling and freezing technology for the food industry are important growth areas within GEA Refrigeration. After acquiring Aerofreeze (Canada) in 2007 and developing Aerofreeze Europe (France) in 2008, GEA Refrigeration ensures further growth in this segment with the acquisition of Eurotek (UK) and now Intec USA in January 2009.
The newly acquired company with its carton freezer product line and technology ideally complements the spiral and tunnel freezers of Aerofreeze in North America, Europe, South America and Middle East.
Because of the high demand for food safety and corresponding quality standards, carton freezers have become the standard technology for freezing boxes worldwide. Purpose of these freezers is the cooling, chilling and freezing of food products in a continuous process in an industrial environment.

February 03 - Obama Calls for Doubling Renewable Energy in 3 Years

U.S. President Barack Obama last month called for doubling the nation's renewable energy production in three years asking Congress to support his economic stimulus plan. He also wants funding for energy efficiency improvements to federal buildings and millions of homes.
Obama also called for funding to modernize the nation's electricity grid and make 75 percent of all federal buildings and up to 2 million American homes more energy efficient.
"In the process, we will put Americans to work in new jobs that pay well and can't be outsourced - jobs building solar panels and wind turbines; constructing fuel-efficient cars and buildings; and developing the new energy technologies that will lead to even more jobs, more savings, and a cleaner, safer planet in the bargain," Obama said in a speech at George Mason University.
Obama has pledged three million new jobs with his stimulus plan, which also includes tax cuts, investment in computerizing medical records, modernizing schools and universities, repairing roads and bridges and expanding broadband access to rural towns.
As for measures to promote renewable energy and other green industries, Obama has yet to release further details of his plan, which could call for as much as $800 billion over two years in tax cuts and spending.

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