SMS Elotherm reported it acquired I.A.S. Induktions-Anlagen+Service GmbH, a German company that it called a “the heating technology specialist.” The cost and terms of the takeover were not announced.
Elotherm is an operating unit of SMS Meer, a business unit of the SMS Group with heavy machinery and technical capabilities for a wide range of metallurgical industry processes. Early last year, SMS Elotherm bought Tech Induction Corp., a Detroit area builder and repair specialist for inductors.
I.A.S. has 100 employees at Iserlohn, Germany, and in China. According to its own website, it designs and builds induction systems for heating and melting.
‟I.A.S. is an ideal complement to our product spectrum,” stated Elotherm managing director Dr. Andreas Seitzer, Managing Director of Elotherm. ‟We can now offer our customers both induction heating systems for isothermal extrusion and the corresponding systems for melting, as well as the traditional spectrum offered by Elotherm with systems for induction hardening, heating, and welding.”
The buyer noted that I.A.S. would continue business operations under its own name, with management by I.A.S. technical director Stefan Beer and SMS Elotherm commercial director, Martin Schulteis.
This is the second notable acquisition in recent weeks for the SMS Group. In February, the affiliated SMS Meer confirmed its purchase of Girard Associates, an engineering company with forging industry expertise.