Berlin, 15 December 2004 – Effective 31 December 2004, PSI AG will take over 100% of the PSI-BT AG subsidiary. To date PSI held 58% of PSI-BT while the Stahlinstitut VDEh held 42 % through the Betriebsforschungsinstitut (BFI).
PSI-BT develops software products and solutions for production management in the steel and process industry. In 2003 the institute had sales of 18 million euros and an EBIT of one million euros with 145 employees. The simplification of the group structures will provide PSI with additional synergies.
The steel institute VDEh and PSI will continue to work together in a close partnership. As part of the transaction the measurement technology business (six employees), which markets the measuring roller for flatness measurements that was jointly developed with the Betriebsforschungsinstitut, will return to the Stahlinstitut VDEh. In the first quarter of 2005 PSI-BT will be converted into a GmbH (German limited liability company) for reasons of simplification. PSI-BT is the German market leader for production management software in the steel industry and has a branch office in Shanghai, China. PSI-BT’s good liquidity will contribute to an improved interest income of the PSI Group after the divestiture.
PSI AG develops and integrates individual solutions, on the basis of its own software, for the management of large networks (electricity, gas, oil, telecommunications, transport), cross-company production management (steel, chemicals, machinery, automotive, logistics) and information management for government and service providers. PSI was founded in 1969 and currently employs 1,100 persons in the group.