.gif?width=220&height=200&mediaprotectionhash=b13da841472e6e7ed500ee35df2a350aaf53d75246118b33ea2095cc7e9a3fc4&ext=.gif)
SMS Meer Acquires Schumag Machinery Segment
11/25/2008 - SMS Meer takes over the Machinery Segment of Schumag AG of Aachen, Germany.
SMS Meer GmbH, Mönchengladbach, has taken over the Machinery Segment of Schumag AG, Aachen, Germany. The new acquisition allows SMS Meer to supplement its product range for plant and machinery in the fields of copper and bright steel.
Around 300 of the 1000 current Schumag employees will continue to work for the new company, SMS Schumag GmbH & Co. KG, which will continue to operate as an independent unit at the Aachen location.
Schumag has leased office facilities and production shops to SMS Meer on a long-term basis. The company’s production, sales, engineering and service capacities are likewise being transferred to SMS Meer, as are the employees of the Schumag Machinery Segment abroad (Great Britain, USA, and China).
“The product ranges of SMS Meer and of the Schumag Machinery Segment complement each other optimally, and therefore no jobs are endangered,” said Heiner Kudrus, Member of the Executive Board of Schumag AG. “Furthermore, the SMS group enjoys an excellent reputation as an employer. By belonging to the SMS group, the employees of the Schumag Machinery Segment have the very best of prospects opened up to them.
SMS Meer said that it also intends to retain the Schumag brand name.
SMS group is, under the holding SMS GmbH, a group of companies internationally active in plant construction and mechanical engineering for the steel and nonferrous metals industry. It consists of the two Business Areas SMS Demag and SMS Meer, which jointly form SMS metallurgy. In 2007, some 8000 employees worldwide generated a turnover of about EUR 3.0 billion.
