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Corporate news transmitted by euro adhoc with the aim of a Europe-wide
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Company Information/Mergers - Acquisitions - Takeovers
Graz - December 4, 2020. International technology Group ANDRITZ has signed an
agreement with Laroche, based in Cours, France, to acquire LM Industries
comprising Laroche SA and Miltec SA, France. ANDRITZ will take over all Laroche
entities and their business worldwide. Closing of the transaction, which is
subject to approval by the ANDRITZ Supervisory Board, is expected at the
beginning of 2021.
Laroche is a leading supplier of fiber processing technologies such as opening,
blending and dosing, airlay web forming, textile waste recycling and
decortication of bast fibers. The product portfolio further complements the
ANDRITZ Nonwoven product range. ANDRITZ is now able to offer the complete supply
and value chain, from the raw material, to opening and blending, web forming,
bonding, finishing, drying, and converting. Laroche's high-performance
technologies for opening and blending enhance the ANDRITZ scope of supply for
spunlace, needlepunch and wetlaid production lines. Moreover, both companies
have agreed to further strengthen the development of their existing technologies
for high-speed and high-capacity applications and also to continue pursuing the
development of textile recycling processes in order to stay ahead of the changes
the industry is facing.
Laroche SA has been developing fiber processing technologies for more than 100
years. With integrated manufacturing, the company supplies lines for a wide
range of industries/products: spinning, bedding and furniture, automotive,
acoustic and thermal insulation, geotextiles, filtration, wipes, and many more.
Robert Laroche, President of Laroche: "This acquisition is the logical
conclusion in view of the successful long-term relationship between ANDRITZ and
Laroche. We have been working in close cooperation for more than ten years and
are very much looking forward to becoming a member of the ANDRITZ family."
Andreas Lukas, Senior Vice President and Division Manager, ANDRITZ Nonwoven: "By
adding Laroche's state-of-the-art products and expertise to our existing
capabilities, ANDRITZ Nonwoven will further strengthen its market and technology
position."
- End -
ANDRITZ GROUP
International technology group ANDRITZ offers a broad portfolio of innovative
plants, equipment, systems and services for the pulp and paper industry, the
hydropower sector, the metals processing and forming industry, pumps, solid/
liquid separation in the municipal and industrial sectors, as well as animal
feed and biomass pelleting. The global product and service portfolio is rounded
off with plants for power generation, recycling, the production of nonwovens and
panelboard, as well as automation and digital solutions offered under the brand
name of Metris. The publicly listed group today has around 27,800 employees and
more than 280 locations in over 40 countries.
Further inquiry note:
Dr. Michael Buchbauer
Head of Corporate Communications
Tel.: +43 316 6902 2979
Fax: +43 316 6902 465
mailto:michael.buchbauer@andritz.com
end of announcement euro adhoc
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issuer: Andritz AG
Stattegger Straße 18
A-8045 Graz
phone: +43 (0)316 6902-0
FAX: +43 (0)316 6902-415
mail: welcome@andritz.com
WWW: www.andritz.com
ISIN: AT0000730007
indexes: ATX, WBI
stockmarkets: Wien
language: English