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Netzsch Group Remains Independent
August 18, 2003
The German Netzsch Group, with its four divisions Analyzing and Testing, Filtration, Grinding and Dispersing and Pumps, will remain independent. In April 2003, Netzsch and the US-based Colfax Corp. had announced plans to join forces, with Colfax intending to acquire the Netzsch Group. Only a short time ago, the Federal Cartel Office had approved the merger, which has now been called off by Colfax, stating that it could not meet the parameters of the acquisition finance facility. "We find it unfortunate, since we saw attractive synergies in a merger of the Netzsch and Colfax groups," Thomas Netzsch, the managing shareholder of the Netzsch group, said. "However, the Netzsch Group will continue to independently pursue its successful path. The amount of orders on hand at the beginning of the current business year starting July 1 is 10-percent higher than in the previous year. We will achieve our strategic goals in all areas on our own strength. We have numerous projects, which will continue to develop and strengthen our market position."