GIENANTH GROUP BUYS UP SLR AUSTRIA
A new era in Gienanth’s long history has just begun. As an enterprise rich in tradition, the Palatine iron foundry expands internationally. With the aquisition of three european companies, the message to the markets is loud and clear.
Closing this deal, Gienanth takes over three production sites in Austria an Czechia. Holding up the quality standards set by the existing foundries in Germany, Gienanth will continue to produce the highest quality cast iron parts. This acquisition will reconcile existing competences to a much broader production and service portfolio under the roof of Gienanth Group GmbH. Especially automated iron casting on horizontal molding lines and outstanding competence in post operations processing of cast iron parts, from machining to coating and painting, to logistical services.
Gienanth Group will hold the following new companies in addition to the headquarters of Gienanth GmbH in Eisenberg/Pfalz (Palatinate) and the hand moulding plant Fronberg Guss (GmbH) in Fronberg/Bavaria:
- Machine molding (iron) foundry SLR-Gusswerk II Betriebsgesellschaft m.b.H., in Steyr, Austria – future GIENANTH Steyr Guss GmbH
- Metalworking company SLR-Metallbearbeitungs-Gesellschaft m.b.H., located in Steyr, Austria – future GIENANTH Steyr MBA GmbH
- Metalworking company SLR-CZECHIA s.r.o. located in Kaplice/Bujanov, Czechia – future GIENANTH Czechia s.r.o.
Combining the two groups under the roof of Gienanth Group, creates one of the leading iron foundry enterprises in the German speaking parts of Europe and beyond.
The notarial contract of sale is dated July, 27th 2018, closing on September, 1st 2018.
QUOTE Dr. Hans-Jürgen Brenninger, CEO Gienanth Group: „I am deeply convinced by this step for many reasons: We are entering new markets with our broadened competences, while also stabilizing growth, and – even more important – we always seek to expand our range of products and services to the benefit of our clients, providing them with the best solutions on the market. All said, our new plants in Austria and Czechia are the perfect extension to what we produce in Germany.”
QUOTE Thomas Brunck, Chairman of the works council: „Gienanth needs permanent and international growth to guarantee long term job security on a local basis. We’re expecting positive effects on the order situation and therefore employment at all production sites.”