Voith Siemens to acquire Austria's Kossler

The Austrian unit of Voith Siemens Hydro Power Generation plans to acquire Austria hydropower builder Kossler GmbH Maschinenfabrik, subject to antitrust approval.

Kossler, a full-line provider of small hydropower engineering, manufacturing, and execution, is to become part of the German-based Small Hydro Division of Voith Siemens and is to continue business as a daughter company of St. Polten-based Voith Siemens Hydro Power Generation GmbH &Co. KG.

�With this step into a joint future we will combine 80 years of Kossler's small hydro know-how with 140 years of Voith Siemens Hydro's business expertise,� Chief Executive Officer Gerhard Blaschitz of the Voith Siemens Austrian unit said.

Kossler has a staff of 74 with sales of about 17 million euros (US$25 million) in the past fiscal year. Voith Siemens has about 3,000 employees and an order intake of more than 1 billion euros (US$1.47 billion) in the past year.

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