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Wolseley signed an agreement to merge its Swiss plumbing and heating business Tobler with Swiss HVAC distributor Walter Meier AG. Wolseley will receive CHF 117.8 million cash and a 39.2% stake in the combined entity.
DMG Mori announced it will sell Tobler SAS (workholding solutions) and Gildemeister Energy Solutions (solar and energy storage) as part of a reorganisation.