Kinshofer, a manufacturer of attachments for cranes and excavators, acquired a majority stake in HGT Hydraulikgreifer-Technologie, a specialist in material handling attachments. The merger agreement was signed.
DaChang Steel, a POSCO cold-rolled coil center, announced it will absorb its wholly-owned subsidiaries DaChang AT and Booil Steel. The merger date is January 1, 2024, and no new shares will be issued.
Circle Packaging Machinery has acquired Wrapade Packaging Systems, a manufacturer of unit-dose packaging equipment for the confectionery industry. Wrapade's operations will be merged into Circle's expanded facility in Wisconsin.
Cougar Mining Group has acquired Undercon's 2014 Jug-A-O Loader, a 10-tonne capacity LHD loader for underground coal mines. The acquisition was finalised in July 2023.
Mitsubishi Chemical Group has acquired CPC Group, an Italian manufacturer of automobile spare parts and composite mechanical parts for aerospace and motorcycle racing. The terms of the transaction were not disclosed.
BHP Group Ltd. agreed to sell its Daunia and Blackwater coking coal mines in Queensland, Australia, to Whitehaven Coal Ltd. for at least $3.2 billion, with additional contingent payments of up to $900 million.
PT Indocement Tunggal Prakarsa Tbk. signed an agreement to acquire all shares of PT Semen Grobogan, a cement plant in Grobogan Regency, Central Java, with a production capacity of 1.8 million tons of clinker and 2.5 million tons of cement per year.
Continental acquired KINEXON's specialist division for the 'Brain' on-board operating system for autonomous mobile robots, including IP rights and a development team. The acquisition strengthens Continental's mobile robotics expertise.
Sinopec has agreed to acquire a 30% equity stake in KazMunayGas's polyethylene plant project in the Atyrau region of Kazakhstan, with an annual capacity of 1.25 million tons. The transaction is expected to close by Q1 2024.
Najran Cement Co of Saudi Arabia signed a non-binding MoU with Ayan for Commerce & Industry to study purchasing a 20-25% minority stake in a subsidiary company in the building materials industry. The MoU was signed on 18 October 2023 and is valid until 31 December 2023.
The National Company Law Tribunal (NCLT) approved the acquisition of steel maker Mittal Corp Ltd by Shyam Sel and Power Ltd, an affiliate of Shyam Metalics and Energy Ltd, for ₹351 crore. The resolution plan offers a 20% recovery for creditors.
Investment affiliates of KKR completed their acquisition of CIRCOR International at $56.00 per share, and CIRCOR stock stopped trading on the NYSE. The completion was announced on 2023-10-18.
Australian automotive components manufacturer GUD Holdings has agreed to acquire Rindab AB and a subsidiary of Vision X Europe AB from Swedish owners for SEK 98.6 million, with completion expected on November 1, 2023.
Aliments Putter's inc. acquired the assets of the building and equipment of Whyte's Foods Inc., a vegetable processor specializing in pickles, peppers, cabbage and other vegetables, located in Saint-Louis, Quebec. The acquisition makes Putter's the largest manufacturer/processor of pickles, peppers and sauerkraut in Canada.
Southeast Mechanical acquired Total Services HVAC and Appliances Company, based in Guyton, Georgia, marking SEM's first expansion into the Georgia market. Total Services provides HVAC home services.
Mitsubishi Corp is considering bidding for Fujitsu's chip packaging unit Shinko Electric Industries, as it explores entry into semiconductor manufacturing. The bid is under consideration and not yet confirmed.
Heidelberg Materials, through its subsidiary Indocement, signed an agreement to acquire 100% of the shares in PT Semen Grobogan's integrated cement plant in Central Java, Indonesia. The plant, which started commercial production in 2022, has a capacity of 1.8 million tonnes of clinker and 2.5 million tonnes of cement.
ERG, through its subsidiary ERG Power Generation S.p.A., closed the sale of the entire share capital of ERG Power S.r.l., which owns the combined cycle gas turbine cogeneration plant at Priolo Gargallo, Sicily, to Achernar Energy S.p.A. The deal was completed on October 17, 2023, following conditions precedent including the golden power procedure.
Aira, a Swedish company focused on residential heating, has acquired Garant Wärmesysteme, a German heat pump platform. The acquisition aims to accelerate Aira's expansion in Germany and includes plans to establish the Aira Academy in Glauchau-Zwickau.
Sinopec will acquire a 30% stake in Silleno LLP, a joint venture developing a 1.25 million metric tons per year polyethylene complex at Atyrau, Kazakhstan, from KazMunayGas and Sibur. The deal is expected to close in Q1 2024.
Aira Deutschland, the German subsidiary of Swedish Aira, has acquired Garant Wärmesysteme Ingenieurgesellschaft mbH, a specialist in heating and cooling solutions. The acquisition expands Aira's presence in Saxony and Bavaria.
German carton and boxes specialist Carton Group acquired London-based luxury packaging company Wrapology for an undisclosed fee.
Proos Manufacturing, a material handling equipment producer, was sold to a private investor after entering receivership in July 2023 following a default on a $10.5 million loan.
Demgy Group announced the acquisition of E.I.S. Aircraft GmbH, a German company specializing in thermoplastic and composite components for the aerospace industry, to consolidate its activities in Germany and strengthen European leadership.
KraftPowercon Sweden AB announced the acquisition of 100% ownership of Marsulex Environmental Technologies Corporation (MET), a U.S.-based provider of air quality control systems for power plants and industrial boilers.
Arcline Investment Management signed a definitive agreement to acquire Hartzell Aviation, a designer and manufacturer of aircraft subsystems and aftermarket components, from Tailwind Technologies.
Ryosan and Ryoyo Electro have signed a final agreement to integrate management, establishing a joint holding company named Ryosan Ryoyo Holdings on April 1, 2024.
Nelson Miller Group, a portfolio company of New Water Capital, has acquired Injection Works, a custom thermoplastic injection molding company in Mount Laurel, New Jersey, to expand its domestic plastics manufacturing capabilities.
Mutares SE & Co. KGaA signed an agreement to acquire High Precision Components Witten GmbH, a Tier 1 automotive supplier, from Westebbe Verwaltungs GmbH and Peter Flaschel. The transaction is expected to close in Q4 2023.
Hermans Heftrucks and Heylen Group acquired Tuvo, an Antwerp-based forklift specialist active in sale, rental and maintenance of forklifts and material handling equipment.
JK Paper signed a share purchase agreement to acquire 100% of Manipal Utility Packaging Solutions for about Rs 90 crore, a maker of folding cartons, corrugated boxes and labels with four plants in India. Completion is expected within six weeks.
Japan's Torishima Pump Mfg and UK sealing company AES Engineering formed a joint venture, AESSEAL-Torishima Japan, based in Osaka to supply and service AES seal products in Japan.
Sumitomo Bakelite signed an agreement to acquire 90% of SB Pax, a new company split from Asahi Kasei Pax's laminated plastic film business, to expand its films and sheets business for pharmaceutical packaging. SB Pax is scheduled to begin operations on 1 April 2024.
Atlas Copco Group acquired ACJ s.r.o., a compressor distributor with 14 employees in Samorin near Bratislava, Slovakia, offering sales and service of compressors and dryers. The purchase price was not disclosed.
Indian company Texmo Precision Castings has acquired 75.1% of the shares in German precision casting company Feinguss Blank. The company will operate under the name Texmo Blank, and all jobs and locations will be retained.
Fortress Technology acquired Dynamic Inspection, a New Zealand manufacturer of in-line metal detectors, x-ray and checkweighing equipment, for an unspecified sum.
Spark Power Group Inc. has entered into an arrangement agreement to be acquired by an affiliate of American Pacific Group for $0.825 per share in cash, valuing the transaction at approximately $140 million including assumed debt.
AGES Industri has acquired all shares in Östlings Verktygs AB and APM August Pettersson AB for a total of SEK 29 million, forming a new business area Tech/Tooling.
Cargotec announced a joint venture with Jiangsu Rainbow Heavy Industries (RHI) to produce cranes in China, with a €30m equity investment for a 49% stake, and a €50m investment for a 49% stake in RHI's holding company.
Western Digital and Kioxia are finalizing a merger agreement expected this month, creating a holding company that will be the world's largest NAND flash memory maker. Western Digital shareholders will own 51% and Kioxia shareholders 49%, with Toshiba owning about 19.6% of the new entity.
Lifco AB signed an agreement to acquire a majority of shares in HGT Hydraulikgreifer-Technologie GmbH, a German manufacturer of attachments for material handling machines. HGT reported net sales of approximately EUR 19 million in 2022 and has 35 employees.
Mutares SE & Co. KGaA has submitted an irrevocable proposal to acquire a large majority stake in Sofinter Group, a manufacturer of industrial and utility boilers with revenues over EUR 250 million. The transaction is expected to close before the end of 2023.
Belgium-based Etex has signed an agreement to acquire BGC's gypsum and fibre cement businesses in Australia and New Zealand, including a fibre cement boards plant in Canning Vale, Western Australia. Finalisation is expected in early 2024.
Siemens Energy agreed to sell its high-voltage components unit Trench to private equity firm Triton. The deal is expected to close in the first half of 2024; the price was not disclosed.
Thornico Food & Food Technology Group acquired approximately 10% of shares in Brødrene Hartmann A/S at DKK 360 per share, increasing its holding to about 80%. Thornico intends to offer to buy remaining shares at DKK 360 per share and delist the company.
Bravida acquires Huddinge Elteknik AB, an automation company with 25 employees and annual sales of SEK 30 million, to strengthen its automation and water services in Stockholm. The acquisition will close on January 2, 2024.
Singapore's BW Water has acquired membrane systems supplier SafBon Water Technology, marking its first major step outside Asia.
Triton Fund V has agreed to acquire Siemens Energy's Trench business, a manufacturer of high-voltage grid components, with closing expected in the first half of 2024. Terms were not disclosed.
Stabilus SE has signed an agreement to acquire DESTACO, a supplier of industrial automation components, from Dover Corporation for US$680 million, with closing expected in the first half of 2024.
MAGROUP acquired Tecnickrome Aeronautique Inc in Montreal and CFN Precision Ltd in Toronto, wholly-owned subsidiaries of Sumitomo Precision Products, marking its entry into the Canadian aerospace market.