Austria-based giant engineering and plantmaking company Siemens VAI Mining and Metals Technologies GmbH & Co. has announced that it has completed its previously announced purchase of US-based equipment manufacturer for steel rod and bar rolling mills, Morgan Construction Co.
Morgan Construction Co, which was established in 1888, has subsidiaries in China, India, Brazil and the UK, with about 1,100 employees worldwide.
Commenting on the acquisition, Dr. Richard Pfeiffer, CEO of Siemens VAI Metal Technologies, said that Siemens will combine Morgan's competence in the sector of rolling mill equipment with its own know-how in industrial automation.