SANKT AUGUSTIN, Germany—Hennecke GmbH is panning to purchase Milan-based OMS Group in a deal that is expected to close in December.
Financial terms were not disclosed.
"With this purchase, two technological leaders in the polyurethane machinery business are joining forces to open up opportunities for further growth," Hennecke's Managing Director Rolf Trippler said.
His view was echoed by OMS CEO Enrico Lombardini.
"Joining forces will provide further profitable growth," Lombardini said.
Lombardini and Andrea Mariani, the OMS executive management team, will retain their responsibilities after closing, the companies said. They added that jobs in both companies will be maintained.
Trippler added that the companies' product portfolios in the various segments complement each other.
"We are expanding global technology and market leadership," he said.
Polyurethane Process Industries, a Greensburg, Pa.-based distributor for OMS welcomed the news.
"Based on the merger plans, we anticipate positive changes for PPI and our customers as the two companies combine," PPI General Manager Mark Clark said. "Together, Hennecke and OMS Group will have one of the broadest portfolios in the industry, and will be positioned to become one of the strongest and most reliable suppliers of machinery for polyurethane-based applications."
Clark added that the range of equipment and market strengths of the two companies complement each other.