Incorporated in 1958, LTB filed for insolvency in March of this year following cost overruns and delays on major projects. It generated revenues of € 24 million in 2012 and has 120 employees in Goldkronach near Bayreuth. Under an asset deal, Dürr is acquiring LTB’s assets but none of its liabilities.
Ralph Heuwing, Dürr AG’s CFO and the Board member responsible for Clean Technology Systems, commented: “The acquisition of LTB marks a further step in the strategic expansion of our environmental and energy efficiency technology activities. Via LTB we will be gaining access to innovative technologies which complement our existing range and entering new market segments. Moreover, we expect synergies in procurement and development.” Among other things, LTB holds a strong market position as a supplier to the carbon industry. There is also growing market potential for LTB’s pyrolysis technology, an efficient process for generating fuel gas from organic substances in production waste.
LTB has good access to customers in the chemical, pharmaceuticals, carbon, petrochemical, printing and textile industries in Europe in particular. In addition, it has successfully executed contracts in Asia, America and South Africa over the past few years.