Wikov buys its turbine manufacturer Litostroj from DK Holding Investments – Seznam Zprávy

The engineering group Wikov Industry, like businessman Martin Wichterle, is expanding. They have agreed with the company Jaromír Tesař DK Holding Investments (DKHI) to buy the business part of the Litostroj holding. The latter is a major part of the Energo-Pro Industries business segment.

“For our engineering group, this is a strategic decision. Litostroj belongs to the world leaders in the design and production of equipment for hydropower plants, it has advanced production that continues from quality control, and employs highly qualified employees. Wikov and Litostroj will also take advantage of various synergies in business, technology and production,” Wikov Group owner Martin Wichterle said in a press release.

The companies will not disclose the financial details of the contract, but they said in a press release that the transaction will take place at the end of November and December this year.

Wichterle now plans to focus on the North American market, where he sees opportunities for both companies. “The economy there is growing and trying to bring production back. Litostroj will also strengthen our position in engineering with a focus on renewable resources and technologies that reduce greenhouse gas emissions, which already represent more than half of our sales,” he said in the report.

“This investment, among other things, is part of our strategy to focus on key companies in our portfolio that are involved in producing electricity from hydropower plants and distributing electricity. When the opportunity arose to talk to the Wikov group, a major engineering company with a similar strategy, to establish itself in the North American markets, we knew we had com- to find a business partner for the Litostroj group who would be interested in development. this business,” DKHI spokeswoman Hana Hikelová said about the decision.

The Litostroj Group, with annual sales of about two billion crowns, is one of the leading manufacturers of equipment for hydropower plants in the world. For example, it specializes in the design, manufacture and maintenance of water turbines and pumps and provides complete turnkey solutions for hydropower plants. He owns a hydraulic laboratory in Blansko, South Moravia. In recent years, it has been developing and producing, for example, equipment for pumped-storage power plants.

Now Litostroj employs more than 350 employees and during its time it has participated in projects with a total capacity of installed power of more than 25,000 MW implemented in more than 60 countries around the world.

Wikov Industry, as a group supplies its products, for example, to the fields of wind and water energy, the shipping industry, and oil and gas extraction. The entire group employs more than 1,000 employees in production facilities in the Czech Republic, Germany, Canada and India with annual sales of approximately four billion crowns.