German press manufacturer Schuler AG has acquired a 64.49% interest in its competitor Mueller Weingarten AG (MW) from Metzler Beteiligungsges mbH, a unit of B Metzler Seel Sohn & Holding AG, in a privately negotiated transaction. Both companies build forging presses as part of their product portfolios, both of which also include stamping presses. In the later category, the two companies reportedly have a combined market share of around 35% worldwide.
Schuler plans to acquire the remaining 35.51% stake, which it does not already own, in MW. When all the shares are acquired, which is expected by the end of the year, the company will operate under the name Schuler Weingarten AG and have its headquarters in Gppingen, Germany. It will be represented in more than 20 countries, generate annual sales in excess of EUR 900 million, and have global market coverage in terms of distribution, production, and service, the company said.
Schuler’s American subsidiary is Schuler Inc., based in Canton, MI. Mueller Weingarten’s subsidiary is located in Madison Heights, MI>