Press conferece has been held by the management of MOM Watermetering Ltd. in 24th March 2016. on the occasion of change of owneship. It was officially announced thet one of the most traditional hungarian company has became Hungarian property again.
MOM Zrt. now in local ownership
MOM Vízméréstechnikai Zrt, founded in 1876, is now in fully domestic ownership again. The company, celebrating its 140th anniversary this year, is talking about the start of a new business era also indicated by rebranding, in addition to the change in ownership.
The emblematic meter manufacturer has been repurchased by a local investor group from the Diehl group of Germany. At the press event announcing the transaction, Peter Roebben, head of K&H Bank’s Corporate Business Line - a key player in the deal - said: “K&H, one of the most stable and independent players of the corporate banking market, has been MOM Vízméréstechnikai Zrt.’s exclusive financial partner since 2002. We endeavour to acquaint ourselves with our clients’ business ambitions and the economic environment in which they operate as closely as possible, because this is how we can provide them with financial advice best suited to their needs. This was the case with MOM Zrt. as well. Due to our almost one-and-a-half decade long partnership, we have a good view of the company’s operation and professional results. In addition to its professional financial advice, K&H has contributed to the successful implementation of the ownership change by a bank loan.”
“Diehl of Germany, the Company’s former owner, is increasingly shifting the production capacity of its Metering Division to service provision and system operation as part of their business model change. This is why they offered a buy-out option to MOM Zrt.’s management. The close cooperation between the two companies continues: MOM Zrt. can keep on relying on the precious support provided by the international background of its former owner, and it now becomes a key partner to the Diehl Metering Division” – CEO Metens Regis emphasised when speaking about the ownership change.
Business Director of MOM Zrt. Dávid Timár directed attention to the fact that the transaction transfers the ownership of a cost-efficient company meeting Western standards to a local corporation. “In terms of their metering precision and reliability, MOM Zrt.’s products are outstanding in the domestic and in international markets as well. The company’s new marketing strategy and its renewed brand rests on a client-centric sales approach” –Dávid Timár said.
MOM Zrt. is the only water meter manufacturer based in Hungary. Moreover, it is not only market leader in Hungary, but also an outstanding global player. “Smart metering is inevitably the new trend in the sector. MOM Zrt. enjoys a huge market advantage, as we boast the most extensive expertise and experience in the Hungarian automatic water meter reading market. Our market share in this field is approximately 98%, and by 2015, over 130,000 meters connectable to smart readers and over 500,000 meters connectable to radio modules will be owned by local service providers” –Dávid Timár emphasised. He sees vast potential in the fact that the company has products developed on its own and has successfully completed its own projects in smart meter production and installation. He also stressed that over one thousand water meters had been installed in cooperation with Északdunántúli Vízmű Zrt, and these meters provide continuous data to the pressure management system of the water plant, facilitating efficient operation. “Taking advantage of our newly-gained independence, the door is now open to the production and distribution of entirely new products” – the business director underlined in his speech.