European production equipment manufacturers Maag Pump Systems AG and Automatik Plastics Machinery GmbH are merging, creating a new group with about 460 employees and annual sales of more than $119 million.
Maag, based in Oberglatt, is one of the largest providers worldwide for gear pumps, filtration systems and screen changers for the plastics and elastomers industries. Grossostheim, Germany-based Automatik is a leader in plastic pelletizing systems, the companies said in a June 7 news release.
Via the merger, both firms will reinforce their market positions and extend their presence to more than 100 countries.
The companies will keep their existing brand names for the time being, the release said. The new group which plans to boost sales by more than 50 percent by 2012 is headed by Maag CEO Ueli Thurig.
Automatik's manufacturing plant in Grossostheim will serve as a central location for systems installations, repairs and services. Maag production in Switzerland, the U.S., Italy and China also will stay in operation.
The owners of Maag and Automatik will each hold a 50 percent stake in the new venture. Automatik is part of private equity firm CGS Management of PfÃ¤ffikon, Switzerland. Maag is owned by Clyde Blowers Ltd. of East Kilbride, Scotland.
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