Gildemeister Moving Up to MDAX Stock Index
Gildemeister AG, a leading manufacturer of cutting machine tools for the global market, is soon to join the German mid-cap stock index MDAX. Deutsche Börse in Frankfurt made the official announcement following a review of the index composition. Quotation of the company’s shares on the new index begins December 27, 2007.
The Gildemeister technology group was able to achieve the move from the small-cap SDAX index to the MDAX on the basis of its increase in market capitalization and a higher trading volume on stock exchanges.
“Admission to the MDAX is a reflection of our company’s good performance,” says the company’s executive board chairman, Dr. Rüdiger Kapitza. By being included in the mid-cap index, Gildemeister shares can be expected to attract more attention from private and institutional investors.
Gildemeister currently enjoys steady growth. For the year 2007, the company expects order intake in excess of €1.8 billion and sales revenues of more than €1.5 billion. Gildemeister will issue a press release containing provisional figures for the financial year 2007 on February 12, 2008.