M+W Group completes Automation Business sale to ATS
After receiving approval from the German and the US antitrust authorities, M+W Group, one of the world’s leading high-tech engineering companies, has completed the sale of its automation business to ATS Automation Tooling Systems, Inc., a Canadian automation specialist.
The agreement between M+W Group and ATS was signed on 8 July, after ATS won out over a number of industrial buyers and financial investors.
Focussing on investments in their core business – the planning and implementation of complex, technology-intensive engineering and construction projects – M + W Group’s management decided to sell its automation business. The sale price was around 255 million euros.
About M+W Group: M+W Group GmbH, based in Stuttgart (Germany), is a leading global high-tech engineering company. Established in 1912, the company operates in more than 30 countries. M+W Group manages projects of all dimensions on behalf of clients from various sectors, including electronics, chemicals and pharmaceuticals, energy and information technology — from semiconductor plants to nanotechnology research centers. The company offers a full range of services from concept and design to turnkey solutions. During the financial year 2014, the M+W Group generated sales of 2.46 billion euros with around 7,050 employees worldwide. For more information please visit: www.mwgroup.net.
About ATS: ATS Automation provides innovative, custom designed, built and installed manufacturing solutions to many of the world’s most successful companies. Founded in 1978, ATS uses its industry-leading knowledge and global capabilities to serve the sophisticated automation systems’ needs of multinational customers in industries such as consumer products & electronics, energy, life sciences and transportation. It also leverages its many years of experience and skills to fulfill the specialized automation product manufacturing requirements of customers. ATS employs approximately 2,500 people at 23 manufacturing facilities in Canada, the United States, Europe, Southeast Asia and China. The Company’s shares are traded on the Toronto Stock Exchange under the symbol ATA. More information: www.atsautomation.com
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