Voith now sole owner of ELIN Motoren

Voith Group, which has held 70% of EILN Motoren since May 2020, has now acquired the remaining stake in the German company, as it advances its expansion of its core business into sustainable technologies.

The balance of the interest had been held by managing director Franz Hrachowitz. With the new agreement in place, electric motor and generator maker ELIN Motoren and its 1,000 employees will continue to operate under its established brand.

Voith noted that the full acquisition will have no impact on business operations, and its areas of activity will remain unchanged and both companies will continue to have access to the same sales channels.

“For Voith, this is a further step in strengthening our core business and consistently expanding it in the direction of sustainable technologies,” said Voith Group CEO Toralf Haag.

In addition to mining, ELIN Motoren serves the wind energy, plastics, tunnels, oil and gas, plant construction and power plant markets.

“Voith Turbo is regarded worldwide as a leading technology-independent supplier of drive systems. Together with ELIN Motoren, we have been able to achieve a significant advantage for our customers in the electrification of the drivetrain in recent years. The acquisition is therefore an important milestone and contribution to driving forward decarbonization and the associated reduction of CO2,” said Voith Turbo CEO Cornelius Weitzmann.Source:Voith Group