In 1993, Mertik Regelungstechnik GmbH was purchased from the Treuhandanstalt (German privatization agency for the East German enterprises) and renamed Mertik Maxitrol GmbH & Co. KG. For almost three decades, Maxitrol Company and Mertik Maxitrol worked closely together to create a global organization in the pursuit of developing innovative products and worldwide distribution. Last year, Mertik Maxitrol became a wholly owned entity of Maxitrol Company. Mertik Maxitrol has been renamed Maxitrol. Both will be collectively known as Maxitrol.
Mertik Maxitrol was founded in 1877 in Quedlinburg, Germany, and at one time it had more than 3,000 employees. Within two years of purchasing Mertik Regelungstechnik, Mertik Maxitrol began to transition many of its former products into new products incorporating state-of-the-art technology. Today, these new products account for 98 % of the products developed and sold since 1993 resulting in 51 patents being granted in 15 countries.
It is a remarkable achievement and one that we take pride in. But to achieve a more homogeneous organization, we believed it was time to consolidate our company name. This change will help establish the Maxitrol brands worldwide and clarify for our customers and industries who we are and where we will be in the future. For the remainder of 2020 and into 2021, you will begin to see changes in a number of areas of the company including our corporate communications, product identification, company website, and contact information.
Maxitrol Company is a long-established, trusted brand name that is synonymous with quality, reliability, and innovative technology, and Maxitrol (EU) products are held in the same esteem. Going forward, Maxitrol worldwide will maintain the same corporate philosophy and values and will strive to deliver the same great products, technology, and services for years to come. We will not only make an impact on the future of the gas industry, but we will help shape and develop systems that can be used in modern energy systems for a cleaner and safer future.