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Viessmann and Elektrotermex (ETX) agree on strategic partnership in Poland

Great advantages for both partners | Together with Viessmann, ETX strengthens its position as one of the leading providers of solutions for the local and district heating market in Poland | Market access and expansion for Viessmann in Poland

The ETX headquarters is located in Ostroleka, about 130 kilometers northeast of Warsaw.

Ostroleka/Allendorf (Eder), Apr 1, 2022 – Today the polish company ETX and global climate solutions provider Viessmann announced their strategic partnership in the field of local and district heating solutions in Poland. Subject to the approval of the antitrust authorities, the family-owned company Viessmann acquires the majority of shares in ETX. The aim of the cooperation is to expand the strong market position of ETX in Poland and to become the leading provider in the field of heat transfer stations for single- and multi-family homes as well as commercial applications in district heating networks.

As a manufacturer with 130 employees at its headquarters in Ostroleka, ETX has so far been very active in the whole Polish market. The city has a population of just over 50,000 and is located around 130 kilometers northeast of Warsaw. For Viessmann, which is headquartered in Germany, the partnership will result in better market access in Poland, especially for the district heating network sector. Both sides have agreed not to disclose the purchase price.

"We are very pleased to have found a well-positioned partner in ETX, which already has strong market access in the fast growing field of local and district heating of Poland.", said Timo Tauber, Managing Director at Viessmann Investment, explaining the decision.

Janusz Mielnicki, CEO of the family-owned etx company: "We are very happy about our strategic partnership with one of the world's largest manufacturers of climate solutions. With the power of Viessmann behind us, we can grow even faster in the domestic market and have the opportunity to serve a larger part of the Polish market in the future."

As a manufacturer, ETX has compact heat transfer stations for single-family homes and also large heat transfer stations in its portfolio, for example for use in commercial buildings.

About Viessmann

We are the family-owned company Viessmann. Founded in 1917 as a heating technology manufacturer, today we are a leading global provider of sustainable climate (heating, cooling, water and air quality) and renewable energy solutions.

Our integrated solution offering connects products and systems seamlessly via digital platforms and services, creating an individualized feel-good climate for our users. All activities are based on our purpose "We create living spaces for generations to come." This is the responsibility that we, the 12,750-member strong Viessmann family, face every day together with our (trade) partners.

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The ETX headquarters is located in Ostroleka, about 130 kilometers northeast of Warsaw.