Breaking News

Küsters Ownership Changes

June 28, 2006

Austrian technology group Andritz  has bought its remaining 40% stake in the paper and nonwovens machine business of Eduard Küsters Maschinenfabrik GmbH & Co. KG. Andritz purchased the 60% stake in Küsters's in November 2006 from Jagenburg AG, and at that time agreed to periodic options for the purchase of the remaining 40% stake. Terms of the agreement were not disclosed.

Küsters, headquartered in Krefeld, Germany, is one of the world's leading suppliers of roll and calender technologies for the paper, nonwoven and textile industries. With a staff of approximately 500 employees, the company achieves annual sales of approximately €70 million.

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