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Voith Becomes Sole Owner of ELIN Motoren - Since May 1, 2020 a 70 percent of ELIN Motoren GmbH has been owned by Voith Group. The other 30 percent of the company remained with the long-standing Managing Director Franz Hrachowitz - ELINMotoren.com / Voith.com
Voith Becomes Sole Owner of ELIN Motoren

 

NewswireToday - /newswire/ - Heidenheim, Baden-Württemberg, Germany, 2022/01/25 - Since May 1, 2020 a 70 percent of ELIN Motoren GmbH has been owned by Voith Group. The other 30 percent of the company remained with the long-standing Managing Director Franz Hrachowitz - ELINMotoren.com / Voith.com. FSE: VO2A

   
 
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• Voith acquires the remaining stake in ELIN Motoren;
• Through the acquisition, Voith continues its expansion of the core business in the field of sustainable technologies;
• ELIN Motoren will continue to operate under the established brand.

End of last year, the two parties agreed on the acquisition of the remaining stake.

"For Voith, this is a further step in strengthening our core business and consistently expanding it in the direction of sustainable technologies," says Dr. Toralf Haag, CEO of the Voith Group.

ELIN Motoren GmbH (elinmotoren.com) has a total of about 1,000 employees and generates a turnover of about 120 million Euro. The company manufactures electric motors and generators in small series as well as individualized solutions for industrial applications. In this area, the company focuses on electric machines, motors in the low-voltage, medium-voltage and high-voltage range, and generators, in particular for wind energy and decentralized energy generation. With its product portfolio, ELIN Motoren serves the target markets wind energy, plastics, tunnels and mining, oil and gas, plant construction as well as power plants.

"Voith Turbo is regarded worldwide as a leading technology-independent supplier of drive systems. Together with ELIN Motoren, we have been able to achieve a significant advantage for our customers in the electrification of the drivetrain in recent years. The acquisition is therefore an important milestone and contribution to driving forward decarbonization and the associated reduction of CO2," adds Cornelius Weitzmann, CEO of Voith Turbo.

The full acquisition of ELIN Motoren by Voith will have no impact whatsoever on business operations. The areas of activity will remain unchanged. Furthermore, there will be no personnel changes in the Group Division’s management. ELIN Motoren will continue to operate under the established brand. As a result, customers of both companies will continue to have access to the same sales channels.

About the Voith Group

The Voith Group (voith.com) is a global technology company. With its broad portfolio of systems, products, services and digital applications, Voith sets standards in the markets of energy, paper, raw materials and transport & automotive. Founded in 1867, the company today has around 20,000 employees, sales of € 4.3 billion and locations in over 60 countries worldwide and is thus one of the larger family-owned companies in Europe.

 
 
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Written by / Agency / Source: Voith GmbH

 
 

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Voith Becomes Sole Owner of ELIN Motoren

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Publisher Contact: Philip Bäuerle - Voith.com 
+49 7321 37-9517 philip.bäuerle[.]voith.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Voith GmbH securities in any jurisdiction including any other companies listed or named in this release.

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