Stuttgart (Germany), 31 August 2014
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 with headquarters in Stuttgart/Germany is one of the leading global companies in the field of high-tech engineering, procurement and construction. From concept development to turnkey solutions the Group manages projects of all sizes for industries like Electronics, Pharma and Chemicals, Energy and IT. Founded in 1912, the company is recognized today as a market leader in several segments such as the semiconductor and photovoltaic industry among others. In 2013 M+W Group generated an order intake of 3.03 billion euros and revenues of 2.56 billion euros with around 8,500 employees. More information: 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
Press contact:
Michael Gemeinhardt
Phone +49 711 8804-1420
mailto:michael.gemeinhardt@mwgroup.net