Andritz Acquires Ritz Pumpenfabrik
International technology Group Andritz has signed a contract to acquire Ritz Pumpenfabrik GmbH & Co. KG, based in Schwäbisch Gmünd, Germany, including various affiliates.
Andritz Headquarters in Graz, Austria(Foto: Andritz, Croce & Wir)
The company has approximately 280 employees and generates annual sales of about 40 MEUR. It was agreed not to disclose the purchase price; the contract is subject to approval by the relevant authorities and is expected to come into force in the fourth quarter of 2010.
By acquiring Ritz, Andritz is strengthening and complementing its product range in the pumps sector. The pumps manufactured by Ritz are used mainly in the water supply and mining sectors, as well as in offshore and subsea applications. The special motors required to drive submersible pumps are also developed and manufactured by Ritz.
Source: ANDRITZ AG