November 3 (SeeNews) - Austria-based technology group Andritz said it has acquired Croatian company Djuro Djakovic Termoenergetska Postrojenja (DD-TEP) to strengthen its position for renewable energy equipment.
The Croatian company has annual revenue of approximately 60 million euro ($58 million) and employs around 870 people at its two locations in Slavonski Brod and Luzani in eastern Croatia, Andritz said in a press release on Wednesday. It did not disclose the value of the deal.
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According to data from Croatia's court register published on November 3, Andritz was registered as the sole owner of the Croatian company as of November 2. Its previous owner was Russian company Nordenergogrupp.
DD-TEP has 100 years of experience in the production of boiler plants for various kinds of fuels, according to the press release. It focuses on designing and manufacturing boiler facilities, energy islands and power stations that process biomass and waste on grate technology, thus strongly supporting circular economy,
Furthermore, DD-TEP manufactures and delivers complete power stations on a “turn-key” basis with a power output larger than 2 MWel, producing electricity and heat energy from biomass sources.
Andritz is a service provider for inspections, maintenance, mechanical upgrades, spare parts, and workshop repair activities within the boiler and power industry.
($ = 1.026 euro)