The company, with 40 employees and headquarters in Marchtrenk, is being taken over by Werner Horvath from Burgenland, who has many years of experience in industry and was most recently a management consultant. Three investors support the takeover.
Manfred Zauner took over astebo, which stands for Austrian Steam Boilers, from Hoval in 2006. At that time the boiler manufacturer was looking for a buyer for this division. Since then, Zauner has, according to his own statement, "invested a lot in securing the location and prevented a relocation of production to a low-wage country".
Now, with an operating performance of around 110 million euros, the company wants to "concentrate on its main driving forces", according to a company statement. This is pipeline construction and large plants in the pharmaceutical industry. Despite attractive offers from abroad, he had decided in favour of Austrian investors.
Horvath has a past at Böhler, Teufelberger and was managing director at Schöller Bleckmann in Ternitz. After negotiations lasting nine months, they have now reached an agreement. The new majority owner wants to take care of the strategic orientation, and nothing will change in the operative management, Horvath said. The steam boilers from astebo are used in industry and for heating - from laundries to steam supply for turbines.
Horvath announced that he intends to concentrate on "special applications" and wants to double the turnover of 13 million euros in five years. Up to 2.5 million euros will be invested in the next two years. (sib)