AUTOMATIK PLASTIC MACHINERY
Merger with Maag Pump Systems
German pelletiser equipment manufacturer Automatik Plastic Machinery (Grossostheim; www.automatikgroup.com) has merged with Swiss gear pump manufacturer Maag Pump Systems (Oberglatt; www.maag.ch).
The new company will have a combined value of CHF 200m (EUR 145m) and will be known as Maag Automatik, said Rolf Lanz, a managing partner of private equity company CGS Management (Pfäffikon / Switzerland; www.cgs-management.com), which owns Automatik. Maag Automatik will be owned 50:50 by CGS Management and Scottish private equity investor Clyde Blowers Capital, the owners of Maag, he explained.
“Maag Automatik is now able to develop and offer a complete systems solution consisting of gear pump, screen changer and pelletiser,” stated Lanz. “We will continue to actively look at further acquisitions as part of the new company’s ongoing growth strategy,” he added.
Maag Automatik will be led by Maag’s CEO, Ueli Thuerig, and will employ more than 450 people in 10 countries, CGS said.
The new company will have a combined value of CHF 200m (EUR 145m) and will be known as Maag Automatik, said Rolf Lanz, a managing partner of private equity company CGS Management (Pfäffikon / Switzerland; www.cgs-management.com), which owns Automatik. Maag Automatik will be owned 50:50 by CGS Management and Scottish private equity investor Clyde Blowers Capital, the owners of Maag, he explained.
“Maag Automatik is now able to develop and offer a complete systems solution consisting of gear pump, screen changer and pelletiser,” stated Lanz. “We will continue to actively look at further acquisitions as part of the new company’s ongoing growth strategy,” he added.
Maag Automatik will be led by Maag’s CEO, Ueli Thuerig, and will employ more than 450 people in 10 countries, CGS said.
10.06.2010 Plasteurope.com [216468]
Published on 10.06.2010
German version of this article...