Körber strengthens LTi Group
Lust family sells majority share in LTi Group to Körber AG. LTi's specialisation in drive and automation engineering, energy technology and sensors expands portfolio of Hamburgbased corporation. The acquisition which is confirmed by cartel authority on March 28, 2013, will open up new opportunities and major prospects for LTi.
An innovative company with a tradition stretching back over 40 years, LTi is focused on investment in new technologies and steady growth. By joining Körber, LTi is safeguarding future growth and technology development so as to grow even stronger in its existing business fields, utilising and expanding existing structures on both a national and international scale.
Körber management board member Hildemar Böhm comments: "LTi is a very good fit with us because we have extensive applications experience specifically in those areas. Together we will be able to exploit new growth opportunities, especially on international markets."
LTi Group managing director Dr. Wolfgang Lust comments: "The Körber Group was established, like ourselves, as a family business, and is today fully owned by the Körber Stiftung charitable foundation. LTi has thus found a sustainable partner to ensure its longterm future."
Dr. Wolfgang Lust will be joining Körber AG where he will be responsible for the strategic development of the Automation, Sensors and Photovoltaic division.
The ultimate object for the family in this decision was to grow the company as a whole, maintaining and developing its high technological standards and expanding business nationally and international, while preserving the philosophy of founder Karl-Heinz Lust. Under the Körber umbrella the established LTi brand name will remain and be strengthened further.
"We are delighted at having found the ideal partner for LTi in the Körber Group, and we look forward to utilising the new growth prospects which the move opens up," states Dr. Lust.
The Körber Group is a global technology concern owned entirely by the Körber-Stiftung charitable foundation. Körber's strategy is a long-term one. With its four divisionsencompassing a total of 30 individual companies, and employing some 9,500 people, the business generates sales of over two billion euros. Körber Group companies are as a rule technology and market leaders in their respective segments. LTi will be integrated into the Körber Process Solutions division of the Körber Group. With this acquisition Körber is further expanding its technology operations.
From left: Lust family with Dr. Wolfgang Lust, Karin Lust, Sabine Bernhard
and Executive Board member of Körber AG Hildemar Böhm.