Bucher Industries sells the DURO All-Terrain Transport Vehicles Unit to MOWAG
18 November 2002 12:39
Bucher Industries is focusing its activities in the vehicle business of the Bucher Automotive Division on municipal vehicles and is selling off the DURO All-Terrain Transport Vehicles unit to MOWAG Motorwagenfabrik in Kreuzlingen. The transaction is expected to be consummated by the beginning of January 2003.
The DURO All-Terrain Transport Vehicles, originally designed for the Swiss Army, are successfully in operation worldwide as Ambulance and Logistic Transporters. The demand for protected vehicles is continuously increasing. This critical development area lies outside the core competence of Bucher Industries. With MOWAG AG in Kreuzlingen, a subsidiary of General Motors Defense in Canada, Bucher Industries has found an ideal Swiss partner to continue the tradition of the DURO All-Terrain Transport Vehicle and to fully utilize the potential for further development of protected DURO vehicles. The worldwide Marketing and Sales network of General Motors Defense offers a significant enhancement to the chances of success. With the sale of the DURO All-Terrain Transport Vehicle sector Bucher Automotive is implementing its consequent strategy of concentration and strengthening of its core business with municipal vehicles.
In the words of Philip Mosimann, CEO of Bucher Industries: 'In combination with the excellent customer relationships, know-how, the tradition and long-standing record of continuity, MOWAG is the ideal partner to operate the product line DURO with success in the future.'
For MOWAG the DURO represents an optimal extension of its product range together with the armoured wheeled vehicles PIRANHA and EAGLE. Jürg Gygax, CEO of MOWAG: 'The DURO is a successfully established and proven product. Today’s market, however, has an increasing requirement for protected vehicles, and this is a core competence of MOWAG. With the DURO sector, we will be in a position to optimally extend our product range and efficiently utilize the synergies of the individual models.' As Gygax further emphasised, MOWAG’s intentions are to further develop the DURO, especially with respect to improved protection for the vehicle occupants.
Provided that approvals of relevant authorities have been obtained consummation of the transaction will take place early January of next year. It has been agreed to treat the sales price confidential.
During the course of the year 2003, MOWAG will transfer the DURO activities to Kreuzlingen and offer the 30 personnel the possibility of transferring their respective workplaces to the Kreuzlingen facility. The Maintenance and Spare Parts Service for existing DURO customers will be continued without interruption through the worldwide MOWAG Organisation.
Bucher Industries Bucher Industries is a dynamic technology group active in the highly sophisticated engineering and specialised vehicle industries with a turnover of 1500 million Swiss francs and 5762 employees. The group is listed at the Swiss stock exchange (SWX: BUC).
MOWAG Motorwagenfabrik AG in Kreuzlingen develops, designs, and produces state-of-the-art special vehicles for the Defense Market. More than 6'000 armoured wheeled vehicles of the type MOWAG PIRANHA and MOWAG EAGLE are in operation worldwide with around 20 customers. Since 1999 MOWAG is a subsidiary of General Motors Defense and employs approx. 500 people at the Kreuzlingen site.
For more information on this company:
MOWAG - Armoured Wheeled Vehicles
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