GEA Group AG (G1AG.DE)
* Elliott, GBL have each bought 3 percent of GEA in past months
FRANKFURT Activist investor Elliott sees scope for cost cuts at food processing machinery maker GEA and thinks its current restructuring plan is not good enough, a person close to the fund manager said on Wednesday.
* GEA shares rise 6.7 pct to highest since mid-April (Adds source and analyst quotes)
FRANKFURT, Oct 11 Activist investor Elliott is not pushing for radical changes at GEA, a person close to the matter said after the fund took a 3.01 percent stake in the German food-processing machinery maker.
* Q3 REVENUE EUR 9.6 MILLION, DOWN 18.6% Source text: http://bit.ly/2wJ5Ii1 Further company coverage: (Gdynia Newsroom)
FRANKFURT German food-processing machinery maker GEA cut its 2017 profit guidance following a weak second quarter with depressed sales volumes and margins, as well as costs related to a bottling product line it has already stopped making.
* H1 OPERATING INCOME EUR 3.9 MILLION VERSUS EUR 4.2 MILLION YEAR AGO