OREANDA-NEWS. On June 06, 2008 The shareholding in Luitpoldhutte has been acquired from the largest world supplier of parts and components for off-highway and automobile industries - Farinia Group - out of own circulating assets of the Russian machine-building Holding Company, which ranks among world's top 10 players in heavy engineering, reported the press-centre of Concern "Tractor plants".

The sum of the bargain by the current moment, according to the Agreement signed by the parties, is not disclosed. The remained 26 % of shares of Luitpoldhutte belong to administrative district of Bavaria, Federal Republic of Germany.

The customers of production of purchased German company with 125-years history (1883 - the year of foundation of the company) are such world leading producers as Buhler, BHS Corrugated, Caterpiller, CNH, Copeland, Cummins, Danfoss Bauer, General Electric, Fendt and Massey Fergusson (AGCO) and many others. The staff of Luitpoldhutte A.G. is 387 people. Annual production turnover in 2006-2007 was 47 622 tons. Annual turnover in 2006-2007 - 56.9 mln. euro.
 
"The purchase of Luitpoldhutte is a very important step in development of production potential of the Russian enterprises, which now can will get access to the industrial-technological know-how and to the highest quality of production of the German company", - said the President of Concern "Tractor plants" Mikhail Bolotin. As he said, in the nearest future it will allow to the Russian companies to improve quality of produced equipment, that in its turn will allow to Russian machinery brands such as Chetra to keep deserved place in line of marks of world largest producers of this global market sector.
 
Luitpoldhutte is the 16-th industrial site of the Concern "Tractor plants" and the second foreign asset of the Russian holding. The first foreign asset acquired by "Tractor plants" in 2006, was Danish company Silvatec. The Russian owners managed not only to make a great contribution to the development of domestic machine-building sector of forestry equipment, but also to increase the production volumes, allowing to provide Danes with additional workplaces, and the plant - with the long-term development.