Andritz AG

euro adhoc: Andritz AG
Andritz buys remaining 40% stake in Küsters

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Graz, 27 June 2006.  Technology Group Andritz purchased the remaining 40% stake in the Paper and Nonwoven Business Areas of Eduard Küsters Maschinenfabrik GmbH & Co. KG from Jagenberg AG.  An agreement on this acquisition was signed.  The parties have agreed not to disclose the purchase price.

Küsters, headquartered in Krefeld, Germany is one of the world’s leading suppliers of roll and calender technologies for the paper, nonwoven and textile industries.  With a staff of approximately 500 employees, the company achieves annual Sales of approximately 70 MEUR.

In November 2005, Andritz had purchased a 60% stake in Küsters’ Paper and Nonwoven Business Areas, also agreeing on periodic options for the purchase of the remaining 40% stake.  Andritz was offered the opportunity to purchase this stake at an earlier date than scheduled.

About the Andritz Group Publicly listed Andritz Group is a global market leader for advanced production systems for pulp and paper, steel and other specialized industries.  Andritz has about 9,000 employees worldwide.  It develops and makes its high-tech systems at 35 production sites in Austria, Germany, Finland, Denmark, France, Netherlands, USA, Canada, and China.

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ots Originaltext: Andritz AG
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Further inquiry note:
Dr. Michael Buchbauer
Head of Investor Relations
Tel.: +43 316 6902 2979
Fax: +43 316 6902 465

Branche: Machine Manufacturing
ISIN:      AT0000730007
WKN:        632305
Index:    WBI, ATX Prime, ATX
Börsen:  Wiener Börse AG / official dealing

Original-Content von: Andritz AG, übermittelt durch news aktuell

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