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Expansion of the core automotive business
AVL acquires interest in
Graz, Austria (ots) - AVL, the high-tech company based in Graz, Austria, has reached an agreement (subject to anti-trust regulatory approval) to acquire the majority interest in Pierburg Instruments GmbH based in Neuss, Germany (with facilities in Fürth and Neuss), and to acquire Pierburg Instruments Inc. in the USA, by the end of 2001. Prof. Helmut List, CEO AVL, "This step significantly contributes to the strategic expansion of our core automotive business. We will achieve an outstanding combination of expertise in the areas of emissions and fuel measurement systems." The Pierburg Instruments brand name and its product lines, which enjoy an excellent reputation on the world market, will continue to operate independently. Pierburg Instruments based in Neuss, Germany, and Auburn Hills, USA, is a world-wide supplier of engine-related instrumentation. With a staff of 220, the business has a turnover of 37 million Euros. The Pierburg Instruments product range covering emissions and fuel measurement systems as well as garage diagnostics enjoys an excellent reputation world-wide. AVL's participation offers Pierburg Instruments access to an international service network and facilitates involvement in large automotive industry projects in which AVL is responsible for system integration. AVL is the world's largest privately owned and independent company for the development of powertrain systems with internal combustion engines as well as instrumentation and test systems.The high-tech company AVL employs 2100 worldwide. Close contact with the client is guaranteed through affiliates and representatives in all major countries worldwide. The turnover in 2000 was 305.2 million Euros. ots Original Text Service: AVL LIST GmbH Internet: www.newsaktuell.ch Contact: Dipl.-Ing. Michael Ksela, Director Marketing AVL LIST GmbH, Hans-List-Platz 1, A-8020 Graz, Austria Mobile: + 43 664 / 132 81 78, Tel. +43 316 787-383, Fax: +43 316 787-904, E-Mail: email@example.com