Significant milestone for Austria Email
Treibacher Industrieholding is a new majority shareholder
The share majority in Austria Email AG in Knittelfeld is acquired by Treibacher Industrieholding GmbH. In doing so, they increase their previous minority holding from 40% to 90%. The remaining shares remain in free float.
Treibacher Industrieholding's offer to purchase the share majority of the private equity business Buy-Out Central Europe II AG was accepted on 11.11.2011. The passage of title is now merely subject to the legally required antitrust law proviso. With the new majority shareholder, the long-established business Austria Email, Austria's oldest listed company, now gain a solid and long-term oriented shareholder base. The successful corporate strategy is consistently continued in the directions of product quality, innovation and expansion into export markets by the established management.
Treibacher Industrieholding GmbH are owned by the private foundations of the two entrepreneurial families Schaschl and Rauch. Treibacher Industrieholding GmbH combine years of industrial experience with financial capacity and pursue the acquisition and the robust growth of quality-oriented Austrian manufacturers. Austria Email are Austria's leading manufacturers of hot water tanks and special boilers. As the only European manufacturers who manufacture insulation on the basis of fleece material and dispose of one of the most modern buffer tank factories in Europe, they research, develop and manufacture in Austria exclusively, from where they serve over 20 export markets and employ 360 employees. With high-technology hot water tanks that are also powered by the alternative energy sources of solar energy, district heating, biomass and heat pumps, Austria Email significantly contribute to improving energy efficiency and environmental safety.
For the current fiscal year 2011, sales growth seems to have settled in at 8% with over EUR 60 million, a positive result situation. The board of directors, the supervisory board and employees alike welcome the owner's decision that promises market continuity, long-term commitment and an investment boost to secure and expand the quality leadership of Austria Email.