CRAILSHEIM, Germany, June 19, 2007 -- Voith Turbo, a Group Division of Voith AG, Heidenheim, plans to take over the gear manufacturer BHS Getriebe GmbH based in Sonthofen, Germany, from the hitherto majority shareholder Halder, one of the leading investment companies in the field of Management Buy-outs in medium-sized busi-nesses in Germany, with retroactive effect from 1 January 2007. The proposed acquisition is subject to the approval of the antitrust authorities. Details about the purchasing price are not to be disclosed.
BHS Getriebe GmbH is one of the world's leading manufacturers of turbo transmissions. Apart from high-performance gears, the product portfolio also includes couplings and rotary turning gear primarily used for energy generation, the extraction and transport of oil and gas, as well as in the chemical and petrochemical industry. With a workforce of approximately 310 people, the company achieved annual sales amounting to EUR 69.0 million in 2006.
It is intended to operate BHS Getriebe GmbH within the Group Division Voith Turbo as a Product Group of the Market Division "Industry." The company will trade as an independent unit under the name of Voith Turbo BHS Getriebe. It will be managed jointly by the current Managing Directors of BHS Getriebe, Dieter Groher and Lothar Hennauer; the head organization will remain in Sonthofen.
With this acquisition, Voith Turbo and BHS Getriebe will pool their know-how in the field of planetary gears and turbo transmissions. High growth potential can also be realized in the jointly worked markets. Additional growth opportunities will arise from the international sales and service struc-tures of Voith Turbo and BHS Getriebe.
Voith Turbo, the specialist for hydrodynamic drive, coupling and braking systems for road, rail and industrial applications, as well as for ship propulsion systems, is a Group Division of Voith AG.
Voith sets standards worldwide for papermaking technology, power transmission, energy technology, and industrial services. Voith was founded in 1867. With approximately 34 000 employees, annual sales of € 3.7 billion and over 250 locations worldwide, Voith is one of the largest family-owned companies in Europe. Voith is an official partner of the initiative "Germany -- Land of Ideas".
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