GERMANY (News release) -- Voith Group on Monday officially announced its purchase of BTG for 319 million euros (more than $353.5 million).
"The acquisition of BTG is an important strategic step for Voith," Andreas Endters, CEO of Voith Paper, said in a news release. "With BTG and its portfolio that is highly complementary to our own products and services, we strengthen our position as a full-line supplier."
"We are very excited with the acquisition of BTG by Voith," BTG president Rob Crossman said in a news release. "Together, we will have some tremendous opportunities to deliver more value to our customers, including integrated technologies, as well as Papermaking 4.0 and IIoT solutions. We are looking forward to joining forces with Voith. This will also present more opportunities for our employees going forward."
Voith Group, based in Europe, is the parent company of Voith Paper, which designs machines for the papermaking industry.
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