Press release
Luxembourg, 16th October, 2006 - Luxembourg, 16th October, 2006. Elster Group, the world’s leading manufacturer and supplier of metering and utilisation solutions to the gas, electricity and water industries, has acquired 100 percent ownership of Kromschröder AG, making it a wholly owned subsidiary of Elster Group Sarl. The acquisition follows a transfer of all stocks held by minority shareholders in September this year.
Acquiring Kromschröder is part of the Elster Group’s strategy to mould individual units and the fragmented structure into a single company with a shared culture and identity. This strategy was announced in June 2006.
“The acquisition of 100 percent of Kromschröder has also allowed us to clearly reinforce our ownership without losing the proud name of the company Kromschröder”, said Siegfried Putzer, Group Vice President Human Resources at Elster Group. ”Kromschröder, as well as changing its legal form to a limited liability company, will now be renamed Elster Kromschröder GmbH.”
Founded in 1865, Kromschröder is a world leader in its markets. The company’s product portfolio includes gas meters for domestic households and commercial premises, safety valves and controller components for heating systems as well as systems for measuring and controlling industrial heating processes.
For further information please contact:
Nick Chaloner, Elster Group
M: +44 (0)7920 597 497
E: nick.chaloner@elster.com
About Elster Group
Elster Group (formerly Ruhrgas Industries), is the world’s leading manufacturer and supplier of highly accurate, high quality, integrated metering and utilisation solutions to the gas, electricity and water industries. In addition, through its subsidiary Ipsen International, it is the leading global manufacturer of high level thermo-chemical treatment equipment.
The group has over 9,000 staff and operations in 37 countries, focused in North and South America, Europe and Asia. Elster’s high quality products and systems reflect the wealth of knowledge and experience gained from over 170 years of dedication measuring precious resources and energy.
The Elster Group is headquartered in Luxembourg.