SMS Meer GmbH, a company within the SMS group, Germany, has announced the acquisition of Machinery Segment of Schumag AG, Aachen, Germany.
Accordingly, SMS Meer will be able to supplement its product range for plant and machinery in the fields of bright steel and copper.
Under the acquisition, around 300 of the total of 1,000 Schumag employees will be working for the new company called SMS Schumag GmbH & Co. KG, which will continue to be operated as an independent unit at the Aachen location.
To this end, Schumag has leased office facilities and production shops to SMS Meer on a long-term basis. The capacities in respect of production, sales, engineering and service as well as the employees of the Schumag Machinery Segment abroad (Great Britain, USA, China) are likewise being transferred to SMS Meer. Meanwhile, the Schumag brand name will be retained.