Andritz acquires Tiszakecskei Gepgyar Kft. (Tigep), Hungary

Feb 18, 2008. /Lesprom.com/. International Technology Group Andritz, has acquired 100% of Tiszakecskei Gepgyar Kft. (Tigep), Tiszakecskei, Hungary. It was agreed not to disclose the purchase price. Tigep – now Andritz Kft. – achieves annual Sales of approximately Euro 20 million with some 370 employees and produces high-level components for turbo-generators and gas turbines for renowned international groups, as well as other welded machine parts for certain specialized industries. As a member of the Andritz Group, Andritz Kft. will, in the future, also manufacture core components for the Andritz Pulp and Paper as well as Hydro Power Business Areas. Additionally, it is planned to increase the number of staff with high-qualified people and to expand the manufacturing facilities. The Andritz Group is a global market leader in the supply of customized plants, systems, and services for the pulp and paper industry and other specialized industries.