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Home > News > Corporate news > January 20, 2010
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January 20, 2010
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Consolidation in the engineering sector
The CITI Technologies Group, which was created in October 2009, acquires 100% of Litwin SA, as third acquisition in the engineering industry.
The CITI Technologies Group is an engineering group which focuses on Industrial Conception and Innovative Technologies. The group was created in October 2009. It is fully owned by its founders and Chief Officers, Henri Gagnaire and Bilal Anbari. The group now operates in two branches: Product Process Projects and Large Industrial Projects.
The Product Process Projects branch has been built-up through the acquisition of the whole Cergi Group and that of part of Magna Steyr group activities in France. It provides its industrial customers with operational engineering services: product process engineering, documentation and General Plant engineering. The branch has a project oriented expertise and culture as well as a multi sector know-how. CITI Technologies teams help their customers with their R&D projects all along the life cycle of their products. They work mainly in the energy, defense, automotive, industrial vehicles and transports industries – rail, shipbuilding, and aeronautics-.
The Large Industrial Projects branch has been created through the acquisition of Litwin SA, an engineering company specialized in the energy, environment and chemical industry sectors. With over 50 years and 1000 turnkey projects achieved worldwide, Litwin operates in the oil, gas, power plant, renewable energies, biomass, carbochemical, fertilizers industries... Litwin SA is based in France, in Paris and in the Eastern part of the country, and has subsidiaries in Italy, Morocco and Egypt. International revenues account for 50% of global Litwin revenues.
Henri Gagnaire, CEO of the CITI Technologies Group, says : « With the acquisition of Litwin SA, the CITI Technologies Group now employs 900 professionals and reaches 200M€ revenues. Our ambition is to be a significant player in the development of tomorrow’s energies and to go on developing the group in the engineering sector both through organic and external growth. ».
« The acquisition of Litwin SA broadens our skills and strengthens our value-added services; the focus of which is the ability to successfully manage complex high technology projects. », insists Bilal Anbari, COO of the group.
About the founders and Chief Officers
Henri Gagnaire, CEO, brings to the group his entrepreneur experience as well as finance and industry deep knowledge. Graduated from French Ecole polytechnique, Henri Gagnaire started his career in Management Consulting and in the automotive industry. Afterwards, he acquired and managed several industrial companies. And then, he co-founded Weinberg Capital Partners.
He has been focusing on the CITI Technologies Group since September 2009.
Bilal Anbari, COO, brings to the group his managing experience in the engineering and industrial sectors. With both an engineering degree from INSA in Lyon and a CEDEP management degree from INSEAD, he started his career with Renault and then directed the Global Engineering Department of the Wagon Automotive Group. He then joined the Segula Technologies Group as CEO of its Automotive Department and afterwards as COO of the whole group.
He has been focusing on the CITI Technologies Group since September 2009.
Press contact
Corinne Collain
13-15, rue Edouard Manet - 92504 Rueil-Malmaison Cedex - France
Phone: +33(0)1 72 25 50 94
Email: corinne.collain@citi-technologies.com
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