Josko buys Glastech
Kopfing, Austria, October 1, 2024 The group of companies centred around the Upper Austrian premium manufacturer of windows and doors is buying Glastech, a producer of insulating glass based near Amstetten, Austria. Glastech will be integrated into the group alongside its sister companies Josko Fenster & Türen and Eurosun Sonnenschutz. The Josko-Scheuringer Group is growing and increasing its own added value. An investment in the future. Until now, Glastech was a subsidiary of Lisec, a leading international machine manufacturer for flat glass processing and finishing.
A HUGE OPPORTUNITY FOR JOSKO
Insulating glass is one of the most important components of windows and hence also a decisive quality factor. With the purchase of Glastech, the Lower Austrian producer of insulating glass, Josko is integrating a significant part of the value chain into its own group of companies. The strategic goal is to produce first-class insulating glass for high-quality window construction that meets the high demands of end customers in this segment. "We attach great importance to producing everything essential that determines the design and quality of our products ourselves. The fact that we now have more of the production of insulating glass in our own hands is a logical step for us", explains CEO and majority owner Johann Scheuringer outlining the motives.
LiSEC FOCUSSES ON ITS CORE BUSINESS
"LiSEC's roots were originally in glass processing, even though machines and systems including software solutions for flat glass processing quickly became the company's core business. We are therefore delighted to have found an ideal partner in Josko that can exploit the potential of GLASTECH in the future and further develop the company in a purposeful way", says Gottfried Brunbauer, CEO of the LiSEC Group. As the world's leading full-service provider of machines, automation solutions, software and services for flat glass processing, LiSEC is pursuing a clear growth strategy. In addition to the ongoing expansion of its global presence and continuous innovation, LiSEC is placing a strong focus on smart, digital solutions in order to optimally support glass processors in terms of transparent and efficient business processes. To implement this strategy, LiSEC is withdrawing from glass processing and focussing its resources on expanding its core business of mechanical and system engineering, as well as software solutions for flat glass processing.
TAKEOVER ON October 1, 2024
The news will become official as of October 1, 2024 The entire site and all the employees of Glastech will be taken over by the Innviertel-based family business. Thomas Litzlbauer, the former CFO of the Josko-Scheuringer Group, played a leading role in this transaction. Gerhard Kasbauer, COO of the Josko-Scheuringer Group, will assume the management of Glastech. In his role, he will be responsible for the production of windows and doors (Josko), as well as the production of the two sister companies Eurosun (sun protection) and now also Glastech (insulating glass). Even though Glastech is now 100% owned by Josko, it will continue to exist as an independent company and will operate freely on the market. In addition to Josko as its new main key customer, existing customers in the window construction segment while also establishing new customer relationships at the same time.
