GERMANY: Compressor manufacturer Bitzer has taken over fellow German air conditioning and refrigeration component manufacturer Armaturenwerk Altenburg GmbH (AWA).
The acquisition was approved by the Federal Cartel Office on 20 December 2012 and takes retroactive effect from January 1, 2013.
'By taking over Europe's leading manufacturer of refrigerant fittings we have secured a supply to our manufacturing sites worldwide, and expanded our product portfolio,' commented Bitzer's chief procurement officer Jürgen Kleiner. 'Our customers will from now on benefit from a complete range from a single supplier.'
AWA, which was founded in 1879, manufactures valves, sight glasses, solder adapters, flanges and fittings. With sales of around €23m and a total of 200 employees, 45% of its products are exported to the Europe, the USA, China, Brazil and Russia.
The AWA, FAS and Hans Nobis brands which the company markets will be retained.
New managing directors of the Bitzer subsidiary will be long-standing AWA employees Diana Schubert and Günter Schuboth. The previous owner, Karl-Fritz Jordan, is leaving the company for personal reasons.
Bitzer says it plans to expand and develop the location very soon. A neighboring property has already been purchased from the local council. 'We are extending the production facilities and planning a logistics center which will ensure fast, flexible delivery,' said Jürgen Kleiner.