Dürr strengthening market and technological position in exhaust air purification technology
Bietigheim-Bissingen, June 14, 2013 – The Dürr Group is acquiring environmental technology specialist Luft- und Thermotechnik Bayreuth GmbH (LTB) with retroactive effect from June 1, 2013. In this way, it will be strengthening its market position in exhaust air purification technology and broadening its portfolio of technologies in the Clean Technology Systems division. The transaction is still subject to anti-trust clearance.
Incorporated in 1958, LTB filed for insolvency in March of this year following cost overruns and delays on major projects. It generated revenues of € 24 million in 2012 and has 120 employees in Goldkronach near Bayreuth. Under an asset deal, Dürr is acquiring LTB’s assets but none of its liabilities.
Ralph Heuwing, Dürr AG’s CFO and the Board member responsible for Clean Technology Systems, commented: “The acquisition of LTB marks a further step in the strategic expansion of our environmental and energy efficiency technology activities. Via LTB we will be gaining access to innovative technologies which complement our existing range and entering new market segments. Moreover, we expect synergies in procurement and development.” Among other things, LTB holds a strong market position as a supplier to the carbon industry. There is also growing market potential for LTB’s pyrolysis technology, an efficient process for generating fuel gas from organic substances in production waste.
LTB has good access to customers in the chemical, pharmaceuticals, carbon, petrochemical, printing and textile industries in Europe in particular. In addition, it has successfully executed contracts in Asia, America and South Africa over the past few years.
Dürr is a mechanical and plant engineering group that holds leading positions in the world market in its areas of operation. It generates a good 80% of its sales in business with the automotive industry. It also supplies the aircraft, machinery, chemical, and pharmaceutical industries with innovative production and environmental technology. The Dürr Group operates in the market with four divisions: Paint and Assembly Systems plans and builds paint shops and final assembly systems for the automobile and aircraft industries. Application Technology provides automated paint application, sealing, and glueing with its robot technologies. Machinery and systems from the Measuring and Process Systems division are used for balancing and cleaning and in engine and transmission manufacturing as well as in final vehicle assembly, among other areas. The fourth division, Clean Technology Systems, specializes in processes to improve energy efficiency and exhaust air purification. Dürr has 52 business locations in 23 countries worldwide and approximately 7,800 employees. The Group achieved sales revenues of € 2.4 billion in 2012.