Voith is mad about machinery. The German firm is a holding company for four independent divisions that manufacture and distribute machinery and factory-related products. Voith's paper division makes machines used to produce graphic paper, packaging, and tissue. The turbo-power transmission division produces industrial machinery and drive systems for commercial and rail vehicles. Voith Hydro (formerly Voith Siemens Hydro Generation), a joint venture with Siemens provides turbines, generators, and maintenance services to the hydropower generation industry. Industrial Services offers cleaning and maintenance services to industrial manufacturers. Voith gets just over half of its sales from European customers.
The company's paper segment, which brings in nearly half of sales, also produces coaters, finishers, and roll grinders for the paper industry. As is the case with many companies, Voith is looking to expand its operations in China, as evidenced by its recent investment to upgrade its Voith Paper City manufacturing facility in Kunshan.
Voith's Turbo division is its second largest segment, bringing in nearly one-quarter of the machinery manufacturing company's total sales. Seeing a continued trend in rail transportation, the division is expanding its product offerings for passenger trains. In late 2010 the company announced that its Voith Turbo Scharfenberg is developing two prototypes of fiber compound heads to be used on passenger trains.
One of Voith's other divisions, Voith Hydro, is active in R&D for emissions-free power generation from the oceans. Siemens announced plans in 2010 to sell the 35% stake it has in Hydro Power to Voith. If completed, the deal would give Voith sole ownership in Hydro Power. In early 2009 Voith Hydro partnered with RWE Innogy to create Voith Hydro Ocean Current Technologies, which will accelerate the development, manufacture, and marketing of ocean current technologies. Voith Hydro is the majority shareholder, with 80% of the joint venture's equity.
Descendants of founder Johann Matthäus Voith control the Voith Group. – less