International technology Group, ANDRITZ is approaching the new year with a new acquisition. The firm recently announced the signing of a contract to acquire pump specialist, RITZ Pumpenfabrik GmbH & Co. KG.

RITZ is located in Schwäbisch Gmünd, Germany and includes several affiliates. Furthermore it boasts annual sales of approximately EUR 40m and is made up of a 280 strong staff of employees. The purchase price is expected to remain undisclosed.

In a public statement ANDRITZ explained the significance of this acquisition, “By acquiring RITZ, ANDRITZ is strengthening and complementing its product range in the pumps sector.“

The company added, “The pumps manufactured by RITZ are used mainly in the water supply and mining sectors, as well as in offshore and sub-sea applications. The special motors required to drive submersible pumps are also developed and manufactured by RITZ.”