Two becomes one - Viessmann reunites
GERMANY: Boiler manufacturer Viessmann has acquired 100% of the shares of fellow German refrigeration company Viessmann Kaltechnik to reunite the 100-year-old family businesses.
The announcement will reunify a business that was founded in 1917 and grew to become a world leader under the leadership of Hans Viessmann, son of the founder.
The business split in 1992 when, at the age of 75, Hans Viessmann transferred the heating operation to his son Martin Viessmann, creating two separate independent companies. Hans continued to devote himself to the refrigeration business until his death in 2002.
Viessmann Kältetechnik is best known for its coldrooms and commercial refrigeration equipment. The company employs around 400 people at its factory in Hof, southern Germany. The company also has subsidiaries in France, Dubai and in Birmingham, UK.
Viessmann's heating group is one of the leading international manufacturers of heating equipment, best known for its range of domestic, commercial and industrial boilers. With 9,600 employees, the group boasts a turnover of 1.86 billion euros. It has 24 factories in 11 countries, with sales offices and representatives in 74 countries and 120 sales offices worldwide.