Dürr acquires majority stake in technology and engineering group Carl Schenck

Citation

(2000), "Dürr acquires majority stake in technology and engineering group Carl Schenck", Assembly Automation, Vol. 20 No. 3. https://doi.org/10.1108/aa.2000.03320cab.003

Dürr acquires majority stake in technology and engineering group Carl Schenck

Dürr acquires majority stake in technology and engineering group Carl Schenck

Keywords: Dürr, Paints test

DürrAG, the parent company of Duürr Limited, the leading UK supplier of automotive paint systems, has acquired a majority stake in the technology and engineering Group Carl Schenck AG, the leading supplier of automation, diagnostic and test systems. Duürrhas acquired a 76.4 per cent stake of the equity of Schenck and will soon submit a definite purchase offer to the external shareholders, prior to making a full acquisition.

With this acquisition, Dürrwill be able to assume a leading position as general contractor for final assembly systems in the automotive industry, and will further expand its position as suppliers of production systems for engine and gear unit manufacturing.

Hans Dieter Potsch, Chairman of the Board of Management of Dürr AG, said:

This acquisition is in line with the strategic goals of the Dürr Group to persistently expand its global business spectrum. In addition to its leading position as a supplier of automobile paint systems, Dürris developing into a leading supplier of production facilities for the automobile industry. The acquisition of Schenck opens up growth and earnings potentials in other industries as well. With Schenck, we are able to improve our position into interesting global markets.

As part of its expansion strategy, Dürrwill be well positioned to take advantage of opportunities presented by current structural change in the automotive industry, which is increasingly outsourcing product and services packages, and even complete production systems to efficient specialists. In the rapidly growing market of manufacturing support services, Dürr has already assumed a strong position by acquiring the international service specialist Premier Manufacturing Support Services LP last year.

Also in 1999, Dürr acquired Alstom Automation, the leading French supplier of paint systems who - along with the automotive paint business - has a strong position in the growing general industry market.

The DürrGroup employs more than 7,200 people in over 20 countries. In 1998 Schenck achieved sales of EUR453m with about 3,500 people. After an expected record sales level just short of EUR1.2bn in 1999, Dürris - with the recent acquisitions - planning an increase to EUR2bn in 2001.

For further information contact Paul Anderson, DürrLimited, Broxell Close, Warwick CV34 5QF. Tel: +44 (0)1926 418800; Fax: +44 (0)1926 400679.