Küsters joint venture with German Jagenberg AG

22 Nov '05

3 min read

The Austrian technology group Andritz intends, together with the German Jagenberg AG, to set up a joint venture for the operation of the Küsters areas of machines for the paper and nonwoven industries. Both enterprises gave this information in an ad hoc report last Friday. Andritz AG, based in Graz, will take over 60 per cent of the shares and the industrial leadership of the new enterprise which will continue to be based in Krefeld.

Dr. Wolfgang Leitner, President and CEO of Andritz AG, gives the reasons for this involvement: "Küsters' successful dewatering and finishing technology, which has been in use for many years now, offers a wide range of applications in the pulp and paper industries for Andritz”.

Across the board comments from the Jagenberg company are positive, too. As CEO Stefan Kranzbühler states: “Following the take-over of the Küsters Group in the summer of this year, the opportunity to further boost the development perspectives for Küsters' paper and nonwoven businesses jointly with Andritz, and to secure them on a long-term basis, presented itself rather unexpectedly.”

The planned participation of Andritz in the business fields machines for the paper and nonwoven industry represents a future-oriented step for the new positioning of the Küsters Group. The decision to restructure the third Küsters field of business, machines for the textile industry, which will in future operate exclusively within Germany at the Küsters Textile GmbH based in Zittau (Saxony), had already been taken before.

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