KUALA LUMPUR, Aug 18 (Bernama) -- Matthews International Corporation has completed its acquisition of German-based engineering firms, OLBRICH GmbH (OLBRICH) and R+S Automotive GmbH (R+S Automotive), for 43 million euro (1 euro = RM4.55).
The acquisitions enabled Matthews International to expand its global presence and solidify its position as a key player in the energy solutions sector.
“We are extremely excited to acquire OLBRICH and R+S Automotive as part of our long-term strategy to offer an extended portfolio of purpose-built engineered equipment and services to the burgeoning electric vehicle and broader green energy market.
“This strategic acquisition continues our investment in technologies and accelerates commercialising new innovations across multiple industrial automation applications,” said Matthews International president and chief executive officer, Joseph C. Bartolacci in a statement today.
Headquartered in Bocholt, Germany, OLBRICH is a production and intelligent equipment manufacturer, specialising in purpose-built rotary processing equipment.
Meanwhile, R+S Automotive is a specialty engineering services provider of automation, plant and tooling concepts for automotive manufacturing companies around the world.
According to the statement, Matthews International plans to integrate OLBRICH and R+S Automotive with its Saueressig Engineering and Energy business as part of its industrial technologies segment, focusing on high-precision engineering for a broad range of industrial automation applications.
Matthews International is a global provider of industrial technologies, memorialisation products and brand solutions, and has approximately 11,000 employees in more than 26 countries worldwide.
-- BERNAMA
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