Schaltbau GmbH acquires Machine Electrics in UK

(PresseBox) ( München, )
Munich-based Schaltbau GmbH, a 100% subsidiary of Schaltbau Holding AG (ISIN DE0007170300), today announced its acquisition of the UK company Machine Electrics Ltd. domiciled in Bredbury near Manchester, England. Machine Electrics was owned by a Dutch investment company. The acquisition took economic effect as of 1 January 2008. The parties agreed not to disclose the purchase price. Due to integration expenses the acquisition is not expected to make an impact on Group earnings for the current year.

Machine Electrics' business activities comprise the manufacture, sale and repair of electro-mechanical components for industrial applications. Machine Electrics has already acted as UK distributor for Schaltbau GmbH in the industrial trucks sector in the past. The new subsidiary is to be instrumental in driving future sales and market development activities for electro-mechanical components both in the UK and on international markets. This move will give Schaltbau a leading market position in the field of contactors for industrial trucks and emergency power systems.

Machine Electrics employs a total workforce of 46 people at the two sites of Bredbury (Sales, Finance and Customer Service) and Cwmbran, Wales (Production, Logistics) and achieved sales of approximately €5.9 million in the fiscal year 2007.

As a 100% subsidiary of Schaltbau GmbH, Machine Electrics will now be known as Schaltbau Machine Electrics.
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