Format Tresorbau, a subsidiary owned 100% by Droege Group, was incorporated into the holding company Dutech, a company listed on the Singapore stock exchange. 

Düsseldorf, 29 September 2011. Droege Capital GmbH, a subsidiary of the Düsseldorf-based and family-owned company Droege International Group AG, incorporated its Format Tresorbau participation into Dutech, which is listed on the Singapore stock exchange and whose major shareholder is the well-known family Liu. Droege Group is now a substantial shareholder of the listed company and receives two seats on the Board of Directors. Walter P. J. Droege and Christoph Hartmann will sit on the board. Dutech is the holding company of Shanghai-based Tri Star Group.

Following approval the merger was completed on 29 September 2011. Upon the conclusion of the transaction Format Tresorbau entered into a strategic partnership with Tri Star Group, the leading high security products manufacturer in Asia. Both corporations join forces to pursue the following goals:

-          Expand global customer service

-          Expand production sites world-wide

-          Leverage economies of scale in purchasing and development

-          Tap additional potential in new markets

Walter P. J. Droege stated that the association with Tri Star represented an essential step in the regional diversification of Droege International Group AG (Advisory & Capital) in the Asian growth region. “The close collaboration with our Chinese partners will allow us to enhance our position in an important growth market.”

Press contact Droege: Isabell Aldag, Head of Corporate Communications Droege International Group AG, Tel. + 49 211 867 31-279, E-mail: isabell.aldag(at)droege-group.com

Press contact Format Tresorbau: Hendrik Matischak, Managing Director
Tel. + 49 5602 939-613, E-mail: h.matischak(at)format-tresorbau.de