Voith becomes sole owner of ELIN Motoren
March 2022
News
Since 1 May 2020, a 70 percent stake in ELIN Motoren has been owned by Voith Group while the other 30 percent of the company remained with the long-standing managing director, Franz Hrachowitz. At the end of last year, the two parties agreed on the acquisition of the remaining stake. “For Voith, this is a further step in strengthening our core business and consistently expanding it in the direction of sustainable technologies,” explained Dr Toralf Haag, CEO of the Voith Group.
ELIN Motoren has a total of about 1000 employees and generates a turnover of roughly 120 million Euros per year. The company manufactures electric motors and generators in small series as well as individualised solutions for industrial applications. In this area, the company focuses on electric machines, motors in the low-voltage, medium-voltage and high-voltage range, and generators, in particular for wind energy and decentralised energy generation. With this product portfolio, the company serves the target markets of wind energy, plastics, tunnels and mining, oil and gas, plant construction and power plants.
“Voith Turbo is regarded worldwide as a leading technology-independent supplier of drive systems. Together with ELIN Motoren, we have been able to achieve a significant advantage for our customers in the electrification of the drivetrain in recent years. The acquisition is therefore an important milestone and contribution to driving forward decarbonisation and the associated reduction of CO2,” added Cornelius Weitzmann, CEO of Voith Turbo.
The full acquisition of ELIN Motoren by Voith will have no impact on business operations and the areas of activity will remain unchanged. Furthermore, there will be no personnel changes in the management of the division and ELIN Motoren will continue to operate under its established brand. As a result, customers of both companies will continue to have access to the same sales channels.
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