ACQUISITIONS: Nedschroef To Acquire Two Whitesell Plants
10/7/2015
HEADLINES
Koninklijke Nedschroef Holdings B.V agreed to acquire the assets of Whitesell Beckingen and Whitesell Schrozberg, Fastener + Fixing Magazine reports.
“Whitesell entered insolvency in January 2015, having twice previously gone through the process, with the US Whitesell Group buying the four German plants at the beginning of 2014.”
The purchase agreement represents Nedschroef’s first acquisition under the new ownership of Shanghai Prime Machinery Company Limited, according to Fastener + Fixing. The acquisition is seen as “another step in Nedschroef ́s vision to become the leading global fasteners partner for future mobility focusing on value for customers with advanced solutions and services.”
“I am convinced that we as Nedschroef are in a position to offer Whitesell employees a better future compared to the past,” stated Nedschroef CEO Mathias Hüttenrauch. “In our long-term growth plans we will further focus on engineered fasteners. I was able to see craftsmanship and high-quality work reflected at the people from Schrozberg and Beckingen, which grew my confidence in them.”
Technology was also a draw in the deal, Fastener + Fixing reports.
“Both plants have outstanding technologies, which are required in the worldwide fasteners industry. With the acquisition of Beckingen we are able to generate own know-how and capacity for coating, which we did not have so far. Schrozberg’s history is driven through development, engineering and production of complex cold forged products. Together with our machine capabilities we will open new perspectives there.”
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