Majority Acquisition of Schmidt Maschinenbau
MAT Foundry Group Ltd., headquartered in Poole, UK, is pleased to announce that it has signed a purchase agreement to acquire the majority stake of Schmidt Maschinenbau GmbH, located at Westhausen, Germany. The acquisition further expands the British group’s investment volume into the European Automotive Market.
Schmidt Maschinenbau GmbH is a world leading manufacturer and developer of complex machine-products for leading international car manufacturers (OEMs). The company specialises in hi-tech transmission systems and components.
The majority stake of MAT consists of the plants in Westhausen, located in the states of Baden-Württemberg, and Eberswalde located at the state of Brandenburg, as well as a production plant in Auburn, Alabama US, which is currently being developed.
Mr. Herbert Schmidt, the founder of the Schmidt Maschinenbau GmbH in 1985, will continue to lead the company as Managing Director. On behalf of the MAT Foundry Group Europe, Mr. Lars Steinheider will take over the position as Co-Managing Director. Beside this new position as Managing Director for the Schmidt Maschinenbau GmbH, Mr. Steinheider will also be responsible as Managing Director of MAT Foundry Group’s Automotive Ductile Iron Division.
The transaction`s execution is subject to clearance by the competent cartel authorities under the merger control regulations.
After the successful acquisition of the majority stake in Schmidt Maschinenbau GmbH, MAT Foundry Group Europe Ltd. will achieve a revenue of approx. € 440 Million p.a..
News and blogs
8 Decarbonisation Tactics That Are Cleaning Up Automotive Manufacturing
30th May 2023Read More
Revealed: How Tired Drivers Could Soon Be Targeted With New Breathalysers
12th May 2023Read More
Dangerous Drivers Beware... Drones Are Watching
13th Apr 2023Read More
What is E-Fuel?
6th Apr 2023Read More
What Do Car Colours Tells Us About UK Motorists?
15th Mar 2023Read More
What Is Trail Braking and Why Do Racing Drivers Use It?
14th Mar 2023Read More
What is BMW E Ink?
16th Feb 2023Read More
Beware The Most Dangerous Driving Roads In The World
13th Feb 2023Read More
The UK's Bestselling Cars 2022
23rd Jan 2023Read More
SolarBotanic Trees Enable Growth of Sustainable Charging Points
3rd Jan 2023Read More