OBERGLATT, Switzerland/GROSSOSTHEIM, Germany (June 7, 2010)—European production equipment manufacturers Maag Pump Systems A.G. 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 elastomers and plastics industries, as well as for chemical and industrial processes. Grossostheim-based Automatik Plastics is a leader in pelletizing systems for manufacturing plastic pellets, the companies said in a June 7 release.
Via the merger, the firms will decisively reinforce their market position. On-site presence of their equipment will nearly double, comprising more than 100 countries.
Both companies will appear on the market under their existing brand names for the time being, the release said. The new group—which plans to increase sales by more than 50 percent by 2012—is headed by Maag CEO Ueli ThÃ¼rig, the companies said.
Automatik Plastics' production plant in Grossostheim will also serve in the future as a central location for the installation of complete systems, repairs and services. Maag production locations in Switzerland, the U.S., Italy and China also will stay in operation.
The investment companies owning Maag and Automatik Plastics will each hold 50-percent stakes in the new venture. Automatik Plastics has been part of Swiss private equity firm CGS Management since November 2008, while Maag was acquired by Scotland-based Clyde Blowers Ltd. near the end of 2008.