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Rücker AG
Irina Winkelmann
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Kreuzberger Ring 40, 65205 Wiesbaden
Phone: +49 611 73 75-0
Fax: +49 611 73 75-259
irina.winkelmann@ruecker.de
Rücker AG expands its aviation business
New company founded together with a Spanish enterprise specialising in aviation - This joint venture has lots of synergy potential - Engineering and services contracting to Airbus has growth potential
Wiesbaden/Madrid, 26 January 2011
The publicly quoted engineering services contractor Rücker AG of Wiesbaden, Germany, has founded a new joint venture together with a Spanish company to expand their business relations with Airbus and their aviation business generally. Rücker Aerospace GmbH, Hamburg, a Rücker group subsidiary, signed a joint venture contract and agreed close future cooperation with CT Ingenieros (CTI) of Madrid, a Spanish engineering and services contractor that is a market leader in the aviation field. As CTI has been an Airbus preferred development contractor for years the two new partners can exploit synergy effects to expand their business relations. Rücker AG has worked for Airbus for many years and is a leading engineering and services contractor to well known international automobile and aircraft manufacturers.
The two have agreed to found a new joint venture company called Rücker CT Engineering GmbH based in Hamburg. The object is to bundle their mutual developmental skills when working for Airbus in future. Wolfgang Rücker, chairman of Rücker AG, commented that, “This joint venture is of special import to us as it constitutes a milestone in the expansion of our contracting work for Airbus. We will profit long-term from this as it incorporates plenty of growth opportunities for our aviation business”.
CT Ingenieros, which has rendered engineering and services in the aviation, railway, automobile, shipping and renewable energy fields for over 17 years, achieved a turnover last year of 40 million Euros. CTI currently employs 600 people, most of them engineers. The company has offices in Toulouse, Bangalore and Porto as well as in Spain and is one of Airbus’ twenty major suppliers. Jesús Prieto, majority shareholder and president of the company, said of the new joint venture that, “We’re striving for global presence to expand our status as a major Airbus supplier. It’s therefore very important to us that we work in future with an expert internationally active company on the German market. Rücker AG seems to us the ideal partner in furthering this aim”.
The joint venture agreement was signed on 25 January 2011 by Rücker’s financial director Jürgen Vogt and CIT president Jesús Prieto.
The two have agreed to found a new joint venture company called Rücker CT Engineering GmbH based in Hamburg. The object is to bundle their mutual developmental skills when working for Airbus in future. Wolfgang Rücker, chairman of Rücker AG, commented that, “This joint venture is of special import to us as it constitutes a milestone in the expansion of our contracting work for Airbus. We will profit long-term from this as it incorporates plenty of growth opportunities for our aviation business”.
CT Ingenieros, which has rendered engineering and services in the aviation, railway, automobile, shipping and renewable energy fields for over 17 years, achieved a turnover last year of 40 million Euros. CTI currently employs 600 people, most of them engineers. The company has offices in Toulouse, Bangalore and Porto as well as in Spain and is one of Airbus’ twenty major suppliers. Jesús Prieto, majority shareholder and president of the company, said of the new joint venture that, “We’re striving for global presence to expand our status as a major Airbus supplier. It’s therefore very important to us that we work in future with an expert internationally active company on the German market. Rücker AG seems to us the ideal partner in furthering this aim”.
The joint venture agreement was signed on 25 January 2011 by Rücker’s financial director Jürgen Vogt and CIT president Jesús Prieto.
Rücker AG – the publicly quoted engineering contractor
Rücker AG of Wiesbaden, Germany, was founded in 1970 by its current chairman and majority shareholder Wolfgang Rücker. It is now a market leading engineering and services contractor. Clients include international automobile and aviation companies as well as railway engineering, shipbuilding, mechanical engineering and power station construction companies.
Rücker’s automobile division supplies many major manufacturers with virtual development and services in the bodywork, interior equipment and electrical systems areas. The group’s aviation division offers goods and services ranging from styling aircraft interiors via designing models and prototypes to calculating and constructing wing and fuselage structures.
Rücker AG has 15 domestic and 20 foreign subsidiaries at 35 locations in 18 countries and currently employs 2,500 people, nearly all engineers.
The group anticipates turnover of 150 million € in the 2010 financial year, 15% more than in 2009. Operating results for the first nine months of 2010 totalled 5.6 million €, an increase of 276% (2009: 1.5 million €).
Rücker’s automobile division supplies many major manufacturers with virtual development and services in the bodywork, interior equipment and electrical systems areas. The group’s aviation division offers goods and services ranging from styling aircraft interiors via designing models and prototypes to calculating and constructing wing and fuselage structures.
Rücker AG has 15 domestic and 20 foreign subsidiaries at 35 locations in 18 countries and currently employs 2,500 people, nearly all engineers.
The group anticipates turnover of 150 million € in the 2010 financial year, 15% more than in 2009. Operating results for the first nine months of 2010 totalled 5.6 million €, an increase of 276% (2009: 1.5 million €).
