Austrian group Andritz buys laser welding specialist Soutec
Andritz Group, a supplier of equipment and technology for manufacturing steel and metals,, has acquired laser welding supplier Soutec AG and its subsidiaries from VTC Industrieholding for an undisclosed amount.
Neftenbach, Switzerland -- Andritz Group, a Graz, Austria-based supplier of plants, equipment, and services for a number of industrial sectors, has acquired Soutec AG and its US and Chinese subsidiaries from VTC Industrieholding for an undisclosed amount.
Soutec is a global supplier of laser welding systems for metal working, used in applications such as car body parts (tailor welded blanks), fuel tanks, and exhaust components for various industries. The company has around 90 employees, and annual sales of approximately € 30 million.
Publicly listed Andritz reported about €4.6 billion in sales for fiscal 2011, with over 17,000 employees and 180 facilities worldwide. Its metals division is a single-source supplier for all technologies and processes involved in manufacturing steel and metal strips, cut-to-length lines for steel, stainless steel, aluminum, and all types of non-ferrous metals.