| Press release November 8, 2007 |
Voith Siemens Hydro Power Generation: Voith Siemens Hydro plans takeover of Austrian small hydro expert Kössler Heidenheim, Germany/St. Pölten, Austria: Voith Siemens Hydro Power Generation GmbH & Co. KG based in St. Pölten plans to acquire Kössler GmbH Maschinenfabrik based in St. Georgen, Austria. Under this plan worldwide operations shall be expanded on the basis of joint know-how. The planned merger is subject to the approval of antitrust authorities. Kössler is a full-line provider of small hydro power plants troughout engineering, manufacture and execution. With a staff of 74 members the company achieved sales of around 17 million Euro in the last fiscal year. Kössler shall become part of the German based Small Hydro Division of Voith Siemens Hydro Power Generation and shall continue business at its own right as a daughter company of Voith Siemens Hydro Power Generation GmbH & Co. KG St. Pölten. The demand to increasingly generate electricity from renewable sources is in the focus of every single country on the globe. Both small (up to approximately 15 MW capacity) as well as large hydro play an essential role in emission-free gen-eration and have a tremendous potential to offer. Therefore, the improved globalized set-up within the small hydro segment is of high importance for both companies. “With this step into a joint future we will combine 80 years of Kössler’s small hydro know-how with 140 years of Voith Siemens Hydro’s business expertise”, said Dr. Gerhard Blaschitz, CEO of Voith Siemens Hydro’s Austrian unit: ”And we will be able to increase service for our customers.” Volpert Briel, Head of Voith Siemens Hydro’s Small Hydro Division, feels confident, too: “Product portfolio and global spread of both companies complement each other and will together embrace much more than just the addition of two companies.” Voith Siemens Hydro Power Generation is a Group Division of Voith and - with a workforce of around 3,000 employees and an order intake of more than 1 billion Euro in the past business year. Voith Siemens Hydro Power Generation belongs to the world-wide leading companies for hydro power equipment. Voith is setting standards in the markets paper, energy, mobility and service. Founded on 1 January 1867, and nowadays with approximately 37,000 employ-ees, a turnover of 4 billion Euro and more than 270 locations worldwide, Voith is one of Europe’s large family-owned companies. Voith is an official partner of the initiative “Germany - Land of Ideas.” |
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Barbara Fischer-Aupperle Voith Siemens Hydro Power Generation GmbH & Co.KG | Alexanderstraße 11, Heidenheim | Germany Tel +49 7321 37-6848 | Fax +49 7321 37-7828 E-Mail barbara.fischer-aupperle@voith.com |
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