Voith Eyes ELIN Motoren Acquisition

By DJ Slater23 December 2019

Voith Group announced its plans to acquire 70% of ELIN Motoren GmbH, the Austrian electric motor manufacturer. Both companies signed a corresponding purchase contract on Dec. 20.

The transaction, subject to regulatory approvals and other conditions, is expected to close near the start of the second quarter of 2020. Financial terms were not disclosed.

The move pairs the majority of ELIN Motoren, an electric motor and generator producer, with Voith, which specializes in drive technology across several industries.

“The portfolio of ELIN Motoren is an excellent addition to our industrial drive solutions and supports our position as a technology-independent supplier of drive systems,” said Uwe Knotzer, president & CEO of Voith Turbo. “With the 125 years of experience of ELIN Motoren, we will achieve a significant advantage for our customers in drivetrain electrification.”

Delivered directly to your inbox, Diesel Gas & Turbine News; News features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Jack Burke Senior Editor, Diesel Gas Turbine Tel: +1 262 754 4150 E-mail: jack.burke@khl.com
Gabriele Dinsel Sales Manager Tel: +49 711 3416 74 71 E-mail: gabriele.dinsel@khl.com
Latest News
Plans for Europe’s biggest gas-fired plant shelved
3.6 GW facility will now burn wood pellets
Berg To Lead Cat’s Pleasure Craft Segment
Will be will be responsible for Caterpillar’s global pleasure craft & yachting activities.
2021 Marine Propulsion Survey
Diesel & Gas Turbine Worldwide’s Marine Propulsion Order Survey is part three of three reports designed to provide details on the markets of large reciprocating engines, steam turbines and gas turbines used in power generation, mechanical drive and marine propulsion applications.