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Voith Hydro: Successful Joint Venture Trades Under New Name

February 13, 2009

HEIDENHEIM, Germany, Feb. 13 /PRNewswire/ — The company name is changing,
but the successful course will continue by mutual agreement: From April 1,
2009
, Voith Siemens Hydro Power Generation will become Voith Hydro.

In 2000, the two companies Voith and Siemens, two leading manufacturers of
turbine and generator technology in the field of hydroelectric power, joined
forces to create a joint venture. Since then, they have driven forward the
success of the joint venture. The company shares of the two joint venture
partners remain unchanged: Voith holds 65 percent and Siemens 35 percent of
the company shares in Voith Hydro.

“Under its new name, the company will continue to stand for proven
expertise, excellent research and development, technical reliability and
innovations that gained worldwide recognition. Voith Hydro retains its leading
position as a quality-conscious provider of equipment and services for
existing and new hydroelectric power stations,” says Dr. Roland Muench,
Chairman of the Board of Voith Hydro. “We have been able to substantially
develop our competencies within the joint venture. Today, as a full-service
provider, we offer everything — from the complete solution to individual
components — from our own engineering and production facilities.”

The company now has a leading position worldwide as a provider of complete
systems. The product range includes solutions ranging from the complete
concept to individual electrical and hydraulic components, plus expert
services.

Dr. Roland Muench is very satisfied with the development: “We have
successfully expanded our leading position in the global market for
hydroelectric power. The order volume increased by more than 25 percent over
the last year to almost 1.4 billion Euros today, due not least to the high
worldwide demand for emission-free energy.”

Voith Siemens Hydro Power Generation, from April 1, 2009 Voith Hydro, is a
Group Division of Voith and — with a workforce of around 3,600 employees and
an order intake of almost 1.4 billion Euros in the past business year — Voith
Siemens Hydro Power Generation belongs to the world-wide leading companies for
hydro power equipment.

Voith is setting standards in the markets paper, energy, mobility and
service. Founded on January 1, 1867, and now has with 43,000 employees, a
turnover of 4.9 billion Euros and 290 locations worldwide, Voith is one of
Europe’s large family-owned companies.

     For more information:
     Voith Siemens Hydro Power
     89522 Heidenheim / Germany
     P.O. Box 2010
     Telephone +49 7321 37-0
     Telefax   +49 7321 37-6180
     barbara.fischer-aupperle@vs-hydro.com

http://www.more-powerful-solutions.com/index_en.php

SOURCE Voith Siemens Hydro Power


Source: newswire



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