Dieffenbacher GmbH Maschinen Anlagenbau has acquired the composites business of Schmidt & Heinzmann GmbH & Co.
The deal includes assets in design, project documents and know-how of the composites business.
More than 30 employees will transfer to Dieffenbacher. The company will maintain Schmidt & Heinzmann's service and spare parts supply.
In early August, Schmidt & Heinzmann filed for insolvency due to the rise of raw material costs.
"Despite this, Schmidt & Heinzmann enjoys an excellent reputation in the composites industry as a world leader in SMC manufacturing technologies. The company's products are internationally recognized for their superior quality and performance," Lukas Langer, chief financial officer at Dieffenbacher, said in a news release.
Dieffenbacher will offer existing SMC customers a more comprehensive range of services.
"Our goal is to leverage synergies and promote the growth potential of the Schmidt & Heinzmann portfolio," said Georg Obermaier, head of forming business unit at Dieffenbacher, in a news release.
Dieffenbacher plans to continue offering products under the Schmidt & Heinzmann brand. The company has been in discussion with Schmidt & Heinzmann customers to continue joint projects.
"We're very pleased with the trust placed in us and look forward to our future cooperation," Obermaier said.