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VA Tech Wabag

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VA Tech Wabag


GELIND TECH CONSULTANCES
Type GmbH
Industry Water and Waste-water Treatment
Founded 1924
Founders Max Reder
Headquarters Chennai, India
Vienna, Vienna
Key people Rajiv Mittal, CEO (India)
Erik Göthlin, CEO (Vienna)
Products
Services Operation and maintenance
Revenue Increase205.5 billion (US$3.3 billion) (2011)
Net income Increase 27.45 billion (US$440 million) (2011)
Parent VA Tech Wabag, Chennai
Subsidiaries
  • Wabag Vienna - Parent 2
  • Wabag Switzerland
  • Wabag Czech Republic
  • Wabag Algeria
  • Wabag Tunisia
  • Wabag Romania
Website wabag.com

VA Tech Wabag GmbH is a multinational company with dual headquarters in Chennai, India and Vienna, Austria. Founded in 1924, the company is the largest in the world specializing in water treatment for municipal and industrial users. The company has completed a total of 6000 projects.

History

Wabag

In 1924, Max Reder started Wabag Wasserfilter-Bau in Breslau, Germany. Deutsche Babcock became majority shareholder of Wabag in 1973 and eventually took over the entire company.

Julius Overhoff's water treatment company, founded in 1930, became part of Austrian Simmering-Graz-Pauker (SGP) AG in 1987.

In 1989, SGP's Energy and Environmental Technology Division and VA Finalindustrie merged, becoming SGP VA Energie- und Umwelttechnik, which merged in 1992 with Environmental Technology Division of Puraqua shares from Energie Steirmark. VA Tech/Austrian Energy bought the remaining 30 percent of Puraqua in 1999.

During the 1990s, Wabag Kulmbach started a Leipzig subsidiary, purchased Water Engineering, Ltd., a British company, and the Belgian company STEP including a Tunisia branch, and bought an interest in AEW ESMIL. Also in the 1990s, Wabag added Salzburg and Brno branches.[1]

VA Technologie

In 1990, Österreichische Industrieholding AG (Austrian Industry Holding AG) became Austrian Industries AG as it took the first steps toward privatisation.[2] In 1993, three companies formed from Austrian Industries AG: Voest-Alpine Technologie AG, Voest-Alpine Stahl AG, and Böhler-Uddeholm. Of these, VA Technologie was the first to make an initial public offer on the Vienna Stock Exchange.[3]

VA Technologie, a technology and services company based in Linz, Austria, had four areas of business: metallurgy, power generation, Transmission and distribution, and infrastructure. The metallurgy segment included Voest-Alpine Industrieanlagenbau (VAI), which began as the Voest-Alpine plant building unit but became a separate company in 1956.[4][5][6]

In 1998, Elin Energieversorgung GmbH, a unit of VA Technologie, purchased the electrical transmission and distribution of Rolls Royce.[7]

VA Tech Wabag

In 1999, VA Technologie acquired the Wabag Group of Deutsche Babcock, taking over that company's water business. With this purchase, Austrian Energy & Environment became VA Tech Wabag GmbH. VA Tech Wabag Ltd. was formed in 2000, after the Madras High Court approved separating the operations other than water from Balcke Dürr & Wabag Technologies Ltd., whose India operations began in 1995.[1][8][9]

On 14 July 2005, The EU Commission approved an offer by Siemens AG Österreich for 97.15 of VA Technologie AG for about one billion euros.

In 2004, the metallurgy, power transmission and distribution and infrastructure units, which became part of Siemens, totalled 3 billion euros. These units, employing about 13,000, added to Siemens' significant presence in Austria. The acquisition gave Siemens potential growth in Eastern Europe.

VAI became part of the Siemens Industrial Solutions and Services Group (I&S), headquartered in Erlangen, Germany, though the VAI unit would operate separately with a Linz, Austria headquarters. VAI had dealt with technical solutions for building plants for iron, steel and aluminum, while Siemens made electrotechnical equipment. Both areas would be in one company as a result of the merger.

The VA Tech power transmission and distribution unit became part of the Siemens Power Transmission and Distribution Group, headquartered in Erlangen.

The infrastructure business (VA Tech Elin EBG and ai informatics) made Siemens "the largest Austrian provider of electrotechnical equipment, systems and services for industry, building and communal infrastructure, and for IT services".

A squeeze out was planned, with VA Tech being delisted.

Because of antitrust concerns, Siemens had to sell VA Tech's power generation unit, which had 2004 sales of 900 million euros and about 3000 employees.[6] Andritz AG bought the hydroelectric power division in 2006 for an estimated 200 million euros. The VA Tech Hydro unit changed its name to Andritz VA Tech Hydro GmbH and became a subsidiary of Andritz AG.[10][11] Also in 2005, ICICI Venture became majority owner of Chennai, India-based VA Tech India, a VA Tech Wabag GmbH subsidiary started in 1996. Rajiv Mittal headed a management group which took the minority share. In 2007, VA Tech India acquired the Austrian parent from Siemens for about $100 million.[12][13] The deal was completed 6 November 2007.[14]

In 2008, Wabag Water Services SRL in Ploiesti, Romania and Wabag Water Services Limited in Macao were incorporated.[1][14]

In 2009, Mittal's management team owned 38 percent, and ICICI owned 31 percent, of VA Tech Wabag. The company incorporated a China subsidiary.[15]

In 2010, Va Tech Wabag filed for an IPO in order to submit bids for Build-Own-Operate and Transfer (BOOT) water treatment projects and for starting the company's information technology unit.[8]

Work Culture and Environment

This company has since it inception kept a diverse workforce, and in recognition of the diversity.

References

  1. ^ a b c "History". wabag.com. Retrieved 27 May 2010. 
  2. ^ "Dokumentationszentrum > History > 1986-1993". voestalpine.com. Retrieved 18 May 2010. 
  3. ^ "Dokumentationszentrum > History > 1993-1995". voestalpine.com. Retrieved 18 May 2010. 
  4. ^ "Voest-Alpine Technologie AG - Private Company Information". Business Week. Retrieved 4 September 2010. 
  5. ^ "VAI - Plantmaking Specialists". Steel Times International 21 (5). September 1997. p. 15. 
  6. ^ a b "EU Commission Approves Siemens’ Acquisition of VA Tech". AZoM. 14 July 2005. Retrieved 25 May 2010. 
  7. ^ "VA TECH Elin Purchases Rolls-Royce's Transmission and Distribution Business". Power Online. 22 September 1998. Retrieved 25 May 2010. 
  8. ^ a b Jayakumar, P.B. (23 March 2010). "Water treatment firm Va Tech Wabag files for IPO".  
  9. ^ "Va Tech Wabag sets up engg centre in Chennai". Business Line. 15 April 2000. Retrieved 25 May 2010. 
  10. ^ "Andritz AG Acquires VA TECH Hydro". Aquamedia. Retrieved 7 September 2010. 
  11. ^ "Andritz VA Tech Hydro GmbH". Business Week. Retrieved 7 September 2010. 
  12. ^ Balakrishnan, Reghu (16 April 2009). "Goldman, ICICI Venture plan to exit investment portfolios".  
  13. ^ Das Gupta, Surajeet (27 September 2007). "PE firm in first foreign deal".  
  14. ^ a b "Draft Red Herring Prospectus".  
  15. ^ "VA Tech Wabag to raise Rs 500 cr, IPO likely in 2010".  

External links

  • Company website
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