NewswireToday - /newswire/ -
Stockholm, Sweden, 2013/02/07 - International technology Group ANDRITZ announces that the takeover of a majority interest in publicly listed Schuler AG, Germany, has received full and unrestricted approval from the anti-trust authorities responsible - ANDRITZ.com. Reuters: ANDR.VI
Enforcement will take place during the next few days; ANDRITZ will then own more than 90% of the shares in Schuler AG.
As the technological and global market leader in metalforming, Schuler supplies machines, production lines, dies, process know-how, and services for the entire metal-working industry. With this acquisition, ANDRITZ is expanding its product and service portfolio in the METALS business area. The first-time consolidation of Schuler in the ANDRITZ consolidated financial statements will take place from March 1, 2013.
About The ANDRITZ GROUP
International technology Group ANDRITZ (andritz.com) is a globally leading supplier of plants, equipment, and services for hydropower stations, the pulp and paper industry, solid/liquid separation in the municipal and industrial sectors, the steel industry, and the production of animal feed and biomass pellets. In addition, ANDRITZ offers technologies for other sectors including automation, pumps, machinery for nonwovens and plastic films, steam boiler plants, biomass boilers and gasification plants for energy generation, flue gas cleaning plants, plants for the production of panelboard (MDF), thermal sludge utilization, and torrefaction plants. The publicly listed ANDRITZ GROUP is headquartered in Graz, Austria, and has a staff of about 17,700 employees worldwide. ANDRITZ operates over 180 production sites as well as service and sales companies all around the world.
About Schuler AG
As the technological and global market leader in metalforming, Schuler supplies machines, production lines, dies, process know-how, and services for the entire metal-working industry. Its clients include car manufacturers and their suppliers, as well as companies in the forging, household appliances, packaging, energy, and electrical industries. Schuler is also a market leader in coin minting technology and supplies system solutions for the aerospace and railway industries. The company employs around 5,500 people and is represented by its facilities and sales offices in 40 countries around the world. In the 2011/12 business year, Schuler posted sales of around 1,226 million Euros and an EBITDA margin of 9.6%.