VTN Group and IHI Corporation enter into transaction agreement
IHI Corporation (“IHI”) of Japan is pleased to announce that it has entered into an agreement to acquire 100% of the shares in VTN Beteiligungsgesellschaft mbH (“VTN”), a leading company in heat treatment job service business in Germany, from the current majority shareholders funds managed by BPE Unternehmensbeteiligungen G.m.b.H., Hamburg, and the other minority shareholders (“Transaction”).
IHI Machinery and furnace Co., Ltd (“IMS”), IHI’s 100% subsidiary company, is a top share supplier of the vacuum furnace with more than 2000 installations all over the world and a leading company especially for vacuum carburizing technology with its unique patent for carburizing with acetylene gas.
The acquisition of VTN is the step for further global expansion of IHI/IMS vacuum heat treatment technology through the European market, and the combination of VTN’s process engineering coupled with the design engineering excellence at IHI/IMS for heat treatment machinery, would contribute to our customers in the coming years.
Going forward, VTN, IHI and its other subsidiaries for surface treatment, IHI Ionbond AG, IHI Hauzer technocoating BV, will work together to provide a comprehensive portfolio of services in both metal and non-metal applications, furthering IHI’s ambition of becoming a global leader in heat treatment and surface treatment technology markets which are expected to show significant future growth.
The headquarters of VTN will remain in Witten, Germany. The Transaction is subject to obtaining the necessary regulatory approvals.
About VTN（URL: http://www.vtn-diehaerterei.de/）
VTN is a leading, high-quality provider of advanced heat treatment job service. The company offers wide range of heat treatment technologies, including vacuum heat treatment, induction heating, protective atmosphere heat treatment. VTN operates 5 heat treatment plants in Germany for customers in the market of automotive, aviation, industrial, agricultural, etc. In 2014 the company generated net sales of approx. EUR 30m.
About IHI (URL:http://www.ihi.co.jp/)
Established in 1853, IHI is a listed Japanese industrial conglomerate with a capital of ¥107.1bn (EUR 793mn) and 2014 sales of ¥1,456bn (EUR 10.8bn). The company operates through its four major business areas, “Resources, Energy and Environmental”, “Social Infrastructure, Offshore facilities”, “Industrial Systems, General-Purpose Machinery”, “Aero Engines, Space & Defense”.