GRAZ and ST.PÖLTEN, Austria and HEIDENHEIM, Germany, June 3, 2015 (Press Release) - Voith Paper has handed its 35 percent share in GAW technologies GmbH back to the majority owner, the GAW Group Pildner-Steinburg Holding GmbH. The parties agreed to keep the purchase price confidential.
„The organisational and market-related development of both groups of companies envisaged a merging of the corporate shares in one entity, which seemed reasonable to all parties involved. Yet the successful market presence that binds Voith and GAW will be continued in the future.", explains Jochen Pildner-Steinburg, managing director of GAW Group, about the motives of the buyback.
As of late the Styrian company had a business year in which all GAW enterprise areas were in the black, the group achieved a positive cash flow and an annual net profit, and exhibited an above-average net liquidity.
The GAW Group is a group of technology companies operating worldwide. The portfolio includes plant construction, products and industrial services, and serves five essential markets in almost every region of the world: paper, plastics, chemicals, environmental and automotive.
Founded in 1951, the GAW Group is today present in 27 countries and has more than 1800 employees. It achieves an annual turnover of EUR 273 million and maintains a widespread network of production facilities, service and sales offices on all continents of the earth.