Andritz AG

Andritz AG

Company type	Aktiengesellschaft
Traded as	WBAG: ANDR
ISIN	AT0000730007
Industry	Industrial processing
Founded	1852 (1852)
Headquarters	Graz , Austria
Number of locations	280
Key people	Joachim Schönbeck (CEO)
Products	Turnkey equipment for hydropower plants, the production of pulp and paper and feed and biofuels; plants for steel production; industrial separation technologies
Revenue	EUR 7.543 billion (annual report 2022)
Number of employees	29,100 (2023)
Divisions	Pulp and paper, hydro power, metals, separation, feed and biofuel
Website	www.andritz.com

Andritz AG, Graz

Andritz AG is an international technology group, offering plants, equipment, systems and services for various industries. The group's headquarters are in Graz, Austria. The group gets its name from the district of Andritz in which it is located and is listed on the Vienna Stock Exchange.

Andritz employs more than 29,100 employees at over 280 production and service facilities in over 40 countries. In 2022, the company reported a revenue of EUR€7.5 billion, and a net income of €402.6 million.

Business areas

As of January 2024 Andritz consists of four main business areas:

• Hydro Power
• Pulp and Paper
• Metals
• Environment & Energy

Andritz Metals

The business area Andritz Metals (former "Rolling Mills and Strip Processing") is the third-largest business unit. Andritz Metals designs, develops and erects complete lines for the production and further processing of cold-rolled carbon steel, stainless steel and non-ferrous metal strips, including furnaces, presses and acid regeneration equipment.

Andritz Metals USA Inc.

Headquartered in Callery, PA, USA, ANDRITZ Metals USA Inc. consist of four subsidiaries:

• Andritz Asko
  • Manufacturer of a wide range of slitter knives, slitter tooling, shearing knives and accessories for the ferrous and non-ferrous metal producing industries.
• Andritz Bricmont
  • Original equipment manufacturer of furnace technologies for the aluminum and steel industries, including galvanizing systems.
• Andritz Herr-Voss Stamco
  • Original equipment manufacturer of coil processing equipment including Precision Levelers, Cut-To-Length, Strand Extensioner Slitting, Tension Leveling and a variety of other metal coil processing lines and services.

History

Highlights in ANDRITZ's history, including major acquisitions

In 1852, the company was founded by Hungarian-born Josef Körösi as an iron foundry in Andritz, a suburb of the city of Graz in Austria. Soon after its foundation, the company's production program was extended to include large capital goods, such as cranes, pumps, water turbines, and later also bridges, steam boilers and engines, as well as mining equipment.

In 1949, Andritz began a lasting cooperation with the Escher Wyss Group of Switzerland, initially in the water turbines sector.

In 1951, Andritz embarked on the production of complete paper machines in cooperation with Escher Wyss.

During the 1960s and 1970s, ANDRITZ continued to grow. The production shops were extended, new machines purchased, and research and development activities intensified. Electrochemical and metallurgical equipment were added to the production program.

In 1987, Andritz began to change its strategic direction, from being a licensee of other equipment manufacturers to become a leading international supplier of its own high-tech production systems.

In 1990, the acquisition of Sprout-Bauer, a US company supplying equipment for mechanical pulp and animal feed production, marked the beginning of the group's expansion policy through acquisitions.

2000 -

In March 2000, the company acquired a 50 percent stake in Finland's Ahlstrom Machinery Group from the A. Ahlstrom, a manufacturer of chemical pulp plants and other pulp processing machinery. As part of the purchase agreement, Andritz also received the option of purchasing full control of Ahlstrom Machinery in the event of Andritz going public. In the meantime, Ahlstrom Machinery was renamed Andritz-Ahlstrom and placed under Andritz's Pulp and Paper division.

In 2001, Andritz went public on the Vienna Stock Exchange. Two million new shares were placed successfully with national and international investors.

Following the IPO, Andritz made good on completing its acquisition of full control of Andritz-Ahlstrom, buying up the rest of that subsidiary in July 2001. This was one of the largest acquisitions Andritz has made, and it made Andritz a globally leading supplier of pulp production systems.

In 2006, with the acquisition of VA TECH HYDRO, Andritz advanced to a globally leading supplier of electromechanical equipment for hydropower plants.

Andritz acquired AE&E Austria in 2011, Schuler GmbH (leading German metalforming company) in 2013, and Herr-Voss Stamco Inc. (leading US supplier of coil processing equipment and services for the metals industry) in 2014.

In 2018, the acquisition of Diatec completed the portfolio in hygiene papers, and Andritz also acquired Xerium Technologies a global manufacturer and supplier of machine clothing (forming fabrics, press felts, drying fabrics and roll covers for paper, tissue, and board machines) in 2018.

In 2021, Andritz acquired Laroche, a supplier of fiber processing technologies, and parts of Air Quality Control System (AQCS) business from GE Steam Power.

Andritz Hydro Group

Another large acquisition of Andritz was the purchase of the hydroelectric power division of VA Technologie in 2006, as a consequence of a decision of the European Commission in the acquisition of VA Technologie by Siemens. Experts estimated the price at €200 million. The VA Tech Hydro unit changed its name to Andritz VA Tech Hydro GmbH and became a subsidiary of Andritz AG. With 3000 employees and sales of €620 million, the unit increased the size of Andritz by one third, becoming the company's second-largest business.

In May and June 2008, Andritz acquired hydropower technology and certain assets of GE Energy's hydropower business (including test laboratories in Canada and Brazil), as well as GE Energy's majority interest in the joint venture GE Hydro Inepar do Brasil. Since January 2009, all these acquisitions now operate under "Andritz Hydro" name. Andritz Hydro ranks among the 3 largest hydro companies (with Alstom and Voith-Siemens) with historical references back from 19th century by the acquisition over the years of the following companies and technologies, on which the Andritz Hydro group is the legal successor:

• ACM – Vevey, Switzerland
• AFI, Canada
• Baldwin-Lima-Hamilton, United States
• Bell, Switzerland
• Bouvier, France
• Bouvier-Darling, United States
• Charmilles, Switzerland
• Dominion Engineering Works, Canada
• Dominion Bridge, Canada
• Escher Wyss & Cie, Switzerland
• Ge Hydro, Canada
• Hemi Controls, Canada
• I.P.Morris, United States
• KMPT Ag, Germany
• KMW, Sweden
• Lorenzo Avila, Brazil
• Pedro Molinari, Brazil
• Nohab, Sweden
• Pelton Waterwheel, United States
• Sulzer Hydro, United States
• Tampella, Finland
• Voest-Alpine Maschinenbau Gmbh, Austria
• Voest-Alpine Ag, Austria
• Voest-Alpine Mce, Austria
• Va Tech Voest Mce, Austria
• Va Tech Escher Wyss, Germany
• Va Tech Escher Wyss, Italy
• Va Tech Escher Wyss, Spain
• Va Tech Hydro, Switzerland
• Va Tech Bouvier Hydro, France
• Va Tech Hydro, Canada
• Va Tech Escher Wyss, Mexico
• Va Tech Hidro, Brazil
• Va Tech Hydro Usa Corporation
• Va Tech Hydro, Indonesia
• Va Tech Hydro Flovel, India
• Va Tech Hydro, China
• Waplans, Sweden

Criticism

On April 15, 2022, Andritz announced the suspension of all new business in Russia due to the ongoing war in Ukraine and the resulting international sanctions. Despite this suspension, the company continues to operate its existing facilities in Russia, including its representative office in Moscow, which offers mechanical and thermal separation technologies and services for various industries.

External links

• Official website
• Vienna Stock Exchange: Market Data Andritz AG