IWKA sells JW Froehlich Group in MBO
On June 26, 2006, IWKA Aktiengesellschaft sold J.W.Froehlich Maschinenfabrik GmbH based in Leinfelden-Echterdingen and Plochingen and its subsidiary in Great Britain to J.W.Froehlich Vermögensverwaltung GmbH, Stuttgart in a management buyout
The sale is effective June 30, 2006 and was concluded as part of the company's ongoing divestment program. The purchaser is the founder and CEO of the company Josef W. Fröhlich. The parties have agreed not to disclose the purchase price and other terms and conditions of the contract.
J.W. Froehlich Maschinenfabrik GmbH was part of the former Manufacturing Technology division, to which the IWKA Group's machine-tool companies belonged. The company develops, manufactures and markets, test stands and test systems for engines and gearboxes as well as transfer/assembly machines and leak-testing machines. The bulk of its sales are to the automotive industry. In fiscal 2005, the company had 260 employees and generated sales of about EUR 48 million.