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24. 10. 2024
Wikov has officially acquired Litostroj - the world's leading manufacturer of turbines for hydroelectric power plants
The industrial group Wikov Industry a.s. ("Wikov") is expanding into the production of key components for hydroelectric power plants. With DK Holding Investments s.r.o. (hereinafter referred to as "DKHI") it has agreed on the purchase of the industrial part of the holding – ENERGO-PRO Industries s.r.o., including its subsidiaries Litostroj Power (Slovenia), Litostroj Engineering (Czech Republic), Litostroj Hydro (Canada) and Litostroj US (United States).
The Litostroj Group is one of the world's leading manufacturers of equipment for hydroelectric power plants with more than a hundred years of tradition. It specializes in the design, manufacture and maintenance of water turbines, reversible pump turbines, valves, pumps and is a supplier of complete turnkey solutions for hydroelectric power plants. It is one of the world's leaders in research and development, owns a unique hydraulic laboratory in Blansko, and in recent years has been successful, among other things, in the development and production of equipment for pumped-storage power plants. The company's revenues are around 2 billion CZK per year.
Both parties have agreed not to disclose the financial details of the deal. Steps are currently underway to settle the transaction, which is planned for late November or early December of this year.
"This is a strategic decision for our industrial group. Litostroj is one of the world's leaders in the design and production of equipment for hydroelectric power plants, it has advanced production that builds on quality research and employs highly qualified workers. Wikov and Litostroj will also take advantage of a number of synergies in trade, technology and production," says Martin Wichterle, owner of the Wikov Group. He sees great potential for both companies in the North American markets. "The local economy is growing and is trying to attract production back. Litostroj also strengthens our position in industry focused on renewable resources and technologies that reduce greenhouse gas emissions, which already represent more than half of our sales," adds Martin Wichterle.
Litostroj has been part of the DKHI Group since 2014, during which time it has significantly strengthened its position in the markets of Canada and the USA. The company played an important role in the reconstruction and construction of new hydroelectric power plants of the ENERGO-PRO Group in Georgia, Bulgaria and Turkey.
"This divestment is, among other things, part of our strategy to focus on the key companies in our portfolio that are engaged in hydroelectric power generation and electricity distribution. When the opportunity arose to approach the Wikov Group, which is a leading industrial company with a similar strategy, to establish itself in the markets in North America, we knew that we had found an industrial partner for the Litostroj Group who would be interested in developing this business," comments Hana Hikelová, DKHI's spokesperson.
"I would like to express my sincere thanks to the current owner for his significant support in the development of our company and help in conquering foreign markets. I am very much looking forward to working with the new owner, the strong traditional Czech industrial group Wikov, and to the new opportunities and challenges that await us together," adds Václav Černý, CEO of the Litostroj Group.
The full official news can be found here