AVL to acquire majority stake in Pierburg
12 November 2001
Two measuring equipment companies, AVL-List GmbH (Graz, Austria) and Pierburg Instruments GmbH (Neuss, Germany) said they will join forces in the market for measuring equipment used in the development and maintenance of internal combustion engines. For this purpose, AVL will take over Pierburg Instruments Inc., Auburn Hills, MI, and acquire a majority stake in Pierburg Instruments GmbH, with its operations in Neuss and F?rth.
In 2001, the Pierburg’s 220 employees will have generated sales in the region of €37 million. AVL’s participation will offer Pierburg access to an international service network and facilitate involvement in large automotive industry projects in which AVL is responsible for system integration. The well established Pierburg Instruments brand with its product ranges for emission and consumption measurement will be continued, said the companies.
AVL is the world’s biggest privately owned developer of vehicle drive systems, as well as measuring and testing equipment. Worldwide 2,100 AVL employees generate sales of over €300 million.
The acquisition is subject to approval by the European cartel authorities.