Germany-based industrial group GESCO AG has announced that it has acquired Pickhardt & Gerlach Group (PGW), a leading strip steel processor based in Finnentrop, Germany, as part of its new portfolio strategy. The transaction is still awaiting approval by antitrust authorities.
According to GESCO’s statement, PGW processes cold rolled strip using highly automated production systems and distributes its products in the form of nickel-, copper-, brass- or zinc-plated strip in various standards of quality and dimensions in accordance with customer requirements. As a leading processor of strip, the company has a broad and well-established customer basis in the electronics, automotive, decoration, sporting equipment and office supplies sectors. The company, founded in 1902, generates sales of roughly €30 million, two-thirds of which are attributed to activities abroad.