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MarketScreener Homepage  >  Equities  >  Xetra  >  Krones AG    KRN   DE0006335003

KRONES AG

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Krones : Contipure AseptBloc DN now validated and filed to the US FDA

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08/24/2020 | 05:10am EDT

Krones is pleased to announce it has successfully completed the process of validating its Contipure AseptBloc DN system, and gained its approval from the US Food and Drug Administration (FDA).

The Contipure AseptBloc DN is part of the standard aseptic equipment portfolio from Krones, and consists in a bloc configuration system with both aseptic filling and blowmolding of PET containers. Decontamination of primary packaging materials, consisting in preforms and closures, is performed with gaseous hydrogen peroxide (H2O2).

The system, already 3-A Certified, is now FDA approved for the filling of sterile low acid foods that can be stored and distributed at ambient temperature conditions. To gain the approval, the necessary validation activities were performed on the equipment by Krones, a third party process authority, and Krones' major food and beverage partner and customer in the Midwest. All the required validation documentation, including multiple primary packaging material sizes and closures, was then satisfactorily received from the FDA.

Contipure AseptBloc DN is automatically cleaned and sterilized in less than two-and-a-half hours, providing its users the most line availability in the aseptic technology market. The system can also run continuous production without need of cleaning and sterilization cycles for over a week. All the sterile surfaces of the equipment are also sterilized with gaseous hydrogen peroxide, eliminating the need of hazardous chemicals and massive water consumption.

The state-of-the-art system from Krones also includes additional benefits such zero product waste at beginning of the production cycle, precise equipment high speed motion guaranteed by the integration of servo drives, and the best-in-class blowmoulding and filling expertise from Krones.

Disclaimer

Krones AG published this content on 24 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2020 09:10:19 UTC


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Financials
Sales 2020 3 314 M 3 930 M 3 930 M
Net income 2020 22,3 M 26,5 M 26,5 M
Net Debt 2020 24,1 M 28,6 M 28,6 M
P/E ratio 2020 74,3x
Yield 2020 0,95%
Capitalization 1 668 M 1 975 M 1 978 M
EV / Sales 2020 0,51x
EV / Sales 2021 0,45x
Nbr of Employees 16 906
Free-Float 42,7%
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Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 60,44 €
Last Close Price 52,80 €
Spread / Highest target 55,3%
Spread / Average Target 14,5%
Spread / Lowest Target -14,8%
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Managers
NameTitle
Christoph Klenk Chairman-Executive Board & Chief Executive Officer
Volker Kronseder Chairman-Supervisory Board
Klaus Gerlach Member-Supervisory Board & Head-Operations
Norbert Broger Chief Financial Officer
Werner Schrödl Deputy Chairman-Supervisory Board
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