Prodomax Automation

Prodomax Automation, a member of the Jenoptik Group, won two orders in North America totaling over EUR 12 million. One order is from a major Tier 1 automotive client for assembly lines in the southern US; the other is for a GM program assembly project to be delivered in mid-2019.

Jenoptik has signed an agreement to acquire 100% of Canadian automation company Prodomax Automation Ltd. for a consideration of slightly below 2x expected sales, or around 7x expected 2018 EBITDA. The acquisition strengthens Jenoptik's process automation capabilities for the automotive industry.

Prodomax Automation Ltd. will expand its facility in Barrie, Ontario, investing in state-of-the-art equipment and improving production capabilities. The project will create 20 new jobs and retain 133 positions, with support from the Southwestern Ontario Development Fund.