COVID–19 NEWS   Owners of premises in buildings allowed to determine protocol on wearing of face mask at their venue - Johor Exco | Italy greenlights Omicron-adapted COVID-19 booster shots | New COVID-19 cases down 16.9 pct last week | Japan to simplify COVID-19 airport quarantine procedures | EMA endorses Omicron-adapted COVID-19 vaccines | 
BUSINESS

Matthews International acquires OLBRICH GmbH, R+S Automotive GmbH

18/08/2022 12:00 PM

KUALA LUMPUR, Aug 18 (Bernama) -- Matthews International Corporation has completed its acquisition of German-based engineering firms, OLBRICH GmbH (OLBRICH) and R+S Automotive GmbH (R+S Automotive), for 43 million euro (1 euro = RM4.55).

The acquisitions enabled Matthews International to expand its global presence and solidify its position as a key player in the energy solutions sector.

“We are extremely excited to acquire OLBRICH and R+S Automotive as part of our long-term strategy to offer an extended portfolio of purpose-built engineered equipment and services to the burgeoning electric vehicle and broader green energy market.

“This strategic acquisition continues our investment in technologies and accelerates commercialising new innovations across multiple industrial automation applications,” said Matthews International president and chief executive officer, Joseph C. Bartolacci in a statement today.

Headquartered in Bocholt, Germany, OLBRICH is a production and intelligent equipment manufacturer, specialising in purpose-built rotary processing equipment.

Meanwhile, R+S Automotive is a specialty engineering services provider of automation, plant and tooling concepts for automotive manufacturing companies around the world.

According to the statement, Matthews International plans to integrate OLBRICH and R+S Automotive with its Saueressig Engineering and Energy business as part of its industrial technologies segment, focusing on high-precision engineering for a broad range of industrial automation applications.

Matthews International is a global provider of industrial technologies, memorialisation products and brand solutions, and has approximately 11,000 employees in more than 26 countries worldwide.

-- BERNAMA


Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at www.bernama.com ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2022 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy