The following is a press release published by Aalberts Industries:
Aalberts Industries N.V. has reached an agreement to acquire 100% of the shares of VENTREX Automotive GmbH (VENTREX). The company with 145 employees, based in Graz, Austria, generates an annual revenue of approximately EUR 50 million. VENTREX will strengthen the Industrial Controls business.
VENTREX has a leading global market position as a tier 1 and 2 supplier for charge valves for automotive air conditioning, CNG regulators and valves for the automotive industry. The company is also a leading supplier of seat compressors for the agricultural and heavy duty industrial machinery. With customers all over the world, VENTREX has a reputation as innovative leader with highly automated manufacturing, sophisticated clean room assembly facilities, strong research & development and highly skilled staff. Consistent innovation in all operational areas with strict quality management is the basis of its continuous sustainable profitable growth.
Our group company Ventil Technik International GmbH (VTI) based in Menden, Germany, is also specialised in high pressure valve and regulator technology and has a complementary portfolio in the markets for automotive, medical, air-fire and technical gases.
Mr. Planegger started VENTREX in 1992. For more than twenty years he developed the company to a worldwide market leader. He achieved this together with an experienced management team led by Mr. Kiener, Managing Director, who is with the company for more than ten years. Both will continue to develop VENTREX and realise the improvement and growth possibilities of VENTREX and VTI.
The combination VENTREX-VTI enables us to offer combined technologies in different end markets; develop regions with combined strength and joint research & development capabilities, such as North America and Asia; optimise manufacturing and assembly processes by using the best practices; accelerate organic growth through joint and intensified investments in research & development.
The results of VENTREX will be consolidated effective 1 October 2015, after finalising all formalities and will directly contribute to the earnings per share. The acquisition will be financed from credit facilities.
More information on VENTREX can be found at www.ventrex.com.