Silbitz Group GmbH takes over Iron Foundry Torgelow
Silbitz Group GmbH, one of Europe's leading foundry groups for steel and iron casting with headquarter in Silbitz, Thuringia, has successfully concluded the purchase agreement for the acquisition of Iron Foundry Torgelow, in future trading named as Silbitz Group Torgelow GmbH. As a company from the portfolio of the listed Deutsche Beteiligungs AG (DBAG), the Silbitz Group is taking over the business of the Iron Foundry Torgelow and provides the tradition-rich company with long-term prospects as well as securing the approximately 300 jobs. The parties have agreed to do not disclose the purchase price. The closing of the acquisition is subject to the approval of the competent authorities by anti-trust law.
Consistent course towards sustainability and a secure future
"We are very pleased to be able to give the Iron Foundry Torgelow a long-term and stable perspective as its new owner. We are convinced of the performance of the company and its employees," says Dr. Torsten Tiefel, Managing Director of Silbitz Group GmbH. The main business of the foundry in Torgelow, with its focus on highly complex castings in a weight range of 20 t to approx. 100 t for the offshore wind power industry, perfectly complements the portfolio oft he group: "With the acquisition, we are broadening our product range in castings for the offshore wind industry and pursuing our course of supporting our customers in the manufacture of sustainable products," Tiefel continues. With the integration of the Iron Foundry Torgelow, the Silbitz Group will henceforth be the only European foundry group with direct access to the sea: "The wind turbines are becoming bigger, which means that the size and weight of the components are increasing. They can only be transported economically over short distances on land. Torgelow is located in the north-east of Mecklenburg-Vorpommern, ten kilometres from the port of Ueckermuende and has strategically important access to the Baltic Sea. This allows short and efficient transports to our customers," Tiefel explains.
Commitment of a strong group in a strong company
The Torgelow iron foundry looks back on a tradition of more than 260 years and is currently facing a good demand. The company is specialized in large-dimension castings, such as rotor hubs and machine carriers for wind turbines, and thus generates about 90 % of its turnover with castings for the renewable energy sector. "We are planning rapid but sustainable growth for the company and stand by the employees as a strong partner. Our group also has many years of foundry experience, so we look forward to a lively exchange of knowledge," concludes Tiefel.
About the foundry specialists
The Silbitz Group is one of the leading foundry groups in Europe. It employs about 1,000 people and 41 trainees in three foundries in Silbitz, Zeitz and Košice and a mechanical processing company in Staßfurt. Turnover of 152 million euros is planned for the current year. The foundry group has a casting capacity of more than 75,000 metric tons per year and is a reliable partner for precision casting in nine business sectors, including wind power technology, engine technology, mechanical engineering, drive technology, mining as well as commercial and railway technology.
Iron Foundry Torgelow is planning an annual turnover of 45 million euros for 2021 and has a production capacity of around 50,000 metric tons. Torgelow employs around 300 people. As one of the largest hand-mould foundries in Europe, equipped with state-of-the-art technology, Iron Foundry Torgelow produces complex castings from 750 kg up to 100 t per piece for the wind power industry, large diesel engine as well as machine and plant construction.