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Siemens Completes Acquisition of Morgan Construction
04/07/2008 - Siemens takes over Worcester, Mass., based rolling mill specialist Morgan Construction Co.
With the agreement of all of the responsible authorities, Siemens has now taken over Morgan Construction Co., the rolling mill specialist based in Worcester, Mass.
Morgan Construction, an international supplier of wire mill equipment for the long-product sector, and has constructed over 500 wire, bar and billet mills in more than 40 countries. This company achieved sales of USD 230 million in 2007, and employs some 1,100 people in the USA, China, India, the U.K., and Brazil.
“Combining Morgan's products and know-how with Siemens' automation competence now enables us to present one face to the customer when offering complete solutions for equipping wire mills and for manufacturing long products,” said Dr. Richard Pfeiffer, CEO of Siemens VAI Metals Technologies. “The integration of these two companies will enable us to set the market standards for future technological development. This takeover of Morgan's production plants will also enhance Siemens VAI's own value chain in the U.S., Indian and Chinese markets.”
Dr. Pfeiffer noted that Morgan’s engineering and service capacities would also further strengthen the support that Siemens can offer its customers in these countries, “from modernizing and upgrading plants to spare-part management and retrofitting.”
Morgan Construction will be managed as a Siemens Group company by Siemens VAI Metals Technologies, Linz, Austria.
The Siemens Industry Sector, Erlangen, Germany, is a leading international supplier of production, transportation and building systems. The Sector comprises six Divisions: Building Technologies, Industry Automation, Industry Solutions, Mobility, Drive Technologies and Osram. In fiscal 2007 (ended September 30), Siemens Industry generated sales of approximately EUR40 billion (pro forma, unconsolidated) with around 209,000 employees worldwide.
With the business activities of Siemens VAI Metal Technologies, (Linz, Austria), Siemens Water Technologies (Warrendale, Pa.), and Industry Technologies, (Erlangen, Germany), the Siemens Industry Solutions Division (Erlangen, Germany) is one of the world's leading solution and service providers for industrial and infrastructure facilities. Using its own products, systems and process technologies, Industry Solutions develops and builds plants for end customers, commissions them and provides support during their entire life cycle.
