Duerr Group is acquiring the German environmental technology company Luft- und Thermotechnik Bayreuth GmbH (LTB).
Founded in 1958, LTB’s product range includes scrubbers, filters and cyclones. The company employs 120 people in Goldkronach, and achieved revenues of €24 million in 2012.
LTB filed for insolvency earlier this year following cost overruns and delays on major projects. Under an asset deal, Duerr is acquiring LTB’s assets but none of its liabilities.
The acquisition, which is still subject to anti-trust clearance, will take effect from 1 June 2013.
Source:
http://www.filtsep.com/view/32947/duerr-to-acquire-german-air-purification-technology-specialist-ltb/
