Company News, 2006-06-30, 11:01 AM
ThyssenKrupp Technologies hands over its air-conditioning and ventilation business
With economic effect as of October 1, 2005, ThyssenKrupp Technologies is selling the Noske-Kaeser Group to Titan 1 Limited and Hunter Capital Group, two New Zealand investment companies.
Noske-Kaeser has companies in Hamburg, New Zealand, and Argentina that equip merchant and naval vessels of all kinds with air-conditioning, refrigeration and ventilation devices, plants, and systems as well as fire-fighting and NBC protection systems, and is one of the leading providers in these fields of business. For decades now the Company has also been demonstrating its top-class technology in equipping rail and special-purpose vehicles with air-conditioning systems and in the market for refrigerated container engineering. Noske-Kaeser's 340 employees generated sales of EUR 53 million in fiscal 2004/05.
Titan 1 and Hunter Capital Group are New Zealand investment companies founded in 2001 and 2005, respectively. Titan 1 is an investor with long-term focus whose holdings include among other projects, a share in Conzept Engineering Solutions Ltd., for many years now the New Zealand manufacturing associate of Noske-Kaeser. Hunter Capital is Titan 1's co-investor in this project. Titan 1's principals are John Pendergast and Richard Chisholm while Paul Bublitz is sole shareholder of Hunter Capital Group.
The sale and transfer will be formally closed within short.