Andritz Acquires Tiszakécskei Gépgyár Kft. (Tigép)

Graz, Austria, 18 February 2008 -- International Technology Group Andritz, headquartered in Graz, Austria, has acquired 100% of Tiszakécskei Gépgyár Kft. (Tigép), Tiszakécskei, Hungary, for an undisclosed purchase price.

Tigép – now Andritz Kft. – has annual sales of approximately EUR 20 million. Its 370 employees produce high-level components for turbo-generators and gas turbines for renowned international groups, and other welded machine parts for certain specialized industries. As a member of the Andritz Group, Andritz Kft. will, in the future, also manufacture core components for the Andritz Pulp and Paper and Hydro Power Business Areas. Additionally, it plans to increase the number of staff with high-qualified people and to expand the manufacturing facilities.

“With Tigép, we have acquired an excellent company with a well trained staff and extremely high manufacturing know-how," said Wolfgang Leitner, CEO of the Andritz Group. "As an important part of the global Andritz manufacturing network, Tigép will make a substantial contribution to the Andritz Group’s further growth.”