Voith Completes Acquisition of BTG for EUR 319 Million
Swiss-based BTG offers a high-value portfolio of optimized and customized solutions for a range of applications, primarily for paper manufacturers.
Dec. 2, 2019 - Voith announced that it successfully closed the acquisition of BTG on December 1, 2019 after receiving the required regulatory approvals. Swiss-based BTG offers a high-value portfolio of optimized and customized solutions for a range of applications, primarily for paper manufacturers. “The acquisition of BTG is an important strategic step for Voith,” said Andreas Endters, CEO of Voith Paper. “With BTG and its portfolio that is highly complementary to our own products and services, we strengthen our position as a full-line supplier.” The agreement for the acquisition was signed on September 19 between Voith and Spectris plc, the former parent company of BTG, for a total gross cash consideration of EUR 319 million. According to Voith, BTG will remain entrepreneurial in nature and will operate under the established BTG brand enabling Voith and BTG customers to purchase via their existing sales channels as usual. BTG supplies companies mainly in the areas of packaging, graphic papers and tissue. Its portfolio includes beds and rods for film-metering size presses, high-performance ceramic and cermet coating blades, and pulp and paper process control sensors and laboratory instruments. Moreover, BTG is a decisive partner in the digital transformation of the pulp and paper industry with its offerings in the areas of data analytics, automation and software. Rob Crossman, BTG President, said, “We are very excited with the acquisition of BTG by Voith. Together, we will have some tremendous opportunities to deliver more value to our customers, including integrated technologies, as well as Papermaking 4.0 and IIoT solutions. We are looking forward to joining forces with Voith. This will also present more opportunities for our employees going forward.” Voith Paper is part of the Voith Group and a leading full-line supplier as well as pioneer in the paper industry. Through constant innovations Voith is optimizing the paper manufacturing process and facilitating resource-conserving production. To learn more, please visit www.voithpaper.com. SOURCE: Voith GmbH |