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[August 31, 2014]
M+W Group completes Automation Business sale to ATS
(Thomson Reuters ONE Via Acquire Media NewsEdge) M+W Group / M+W Group completes Automation Business sale to ATS . Processed and transmitted by NASDAQ OMX Corporate Solutions.
The issuer is solely responsible for the content of this announcement.
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:email@example.com This announcement is distributed by GlobeNewswire on behalf of GlobeNewswire clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: M+W Group via GlobeNewswire [HUG#1852593]
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