Voith has signed an agreement with Spectris plc to acquire BTG, a multinational provider of integrated, highly specialized process solutions for the global pulp and paper industry.
The deal, expected to close late in the fourth quarter of 2019 after fulfilling closing conditions, is valued at total gross cash consideration of €319 million.
“BTG and Voith together have 250 years of technological experience in the global paper industry,” says Toralf Haag, president and CEO of the Voith Group. “With BTG, we found an ideal match to complement our portfolio and get the chance to add a high-performing company with widely recognized expertise in the pulp and paper market. This helps us to expand our competitive position as a full-line supplier for the paper industry in the areas of consumables, instruments, services and software.”
BTG offers a portfolio of optimized and customized solutions for a range of applications, mainly in the areas of packaging, graphic papers and tissue. Among these are beds and rods for film-metering size presses, ceramic and cermet coating blades, and pulp and paper process control sensors and laboratory instruments. BTG also pushes digital transformation of the pulp and paper industry forward with its offerings in the areas of data analytics, automation and software.
“We are excited about this opportunity. Voith is a well-respected player in the paper industry and our offering is highly complementary to theirs. As part of the Voith Group, we will be able to offer our employees and our customers more opportunities, supporting BTG growth and allowing us to realize our full potential,” says Rob Crossman, CEO of BTG.
BTG, founded in 1921 in Sweden, is today headquartered in Éclépens, Switzerland, and employs around 600 professionals around the world. It operates four manufacturing sites, three research centres and several regional application centres.
The Voith Group is a global technology company active in energy, oil and gas, paper, raw materials and transport and automotive. Founded in 1867, the company now has more than 19,000 employees, sales of $5 billion and locations in over 60 countries worldwide.
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