CMD Corp. is acquiring FAS Converting Machinery AB in a move that combines two machinery makers serving the bag-making market.
Appleton, Wis.-based CMD has signed an agreement to acquire FAS based in Arlöv, Sweden, in a transaction expected to close Jan. 23, CMD said.
"With this acquisition, we are excited to expand our geographic reach and offerings, allowing us to serve our customers better. FAS Converting Machinery has built a strong reputation for providing high-quality converting machinery, and we are proud to welcome their team to our organization," CMD said in a statement.
"Their expertise will be a valuable addition to our team, and we are excited to leverage their knowledge and experience as we continue to grow," the company said.
CMD, along with making equipment for film converting, also manufactures equipment for compressed natural gas applications. FAS machinery makes a variety of bags, including retail and trash applications, as well as sheeting.
CMD, meanwhile, also revealed that company employees volunteered for more than 150 hours of community service as part of the company's Holiday Giveback Program.
Workers, from Nov. 6 to Dec. 31, had the opportunity to volunteer and get paid for up to four hours of their time during the program. CMD employees spent time with the St. Joseph Food Program, Feeding America, the Salvation Army and COTS, a residential program aimed at helping the homeless, the company said.
"Our Holiday Giveback Program not only allowed our employees to give back to the community, but it also gave them the opportunity to connect with one another and feel a sense of pride in their workplace and community," CMD President Hans Bachmeier said in a statement. "Seeing the impact they made on the lives of those in need was truly inspiring, and we look forward to continuing this tradition in the years to come."