Mann+Hummel: Sells US Subsidiary Unadyn
Mann+Hummel has sold its US subsidiary, Universal Dynamics Inc. (Unadyn) in Woodbridge, Virginia, to the Italian company Piovan. Closing is due to take place on 10th October.
In the USA, Universal Dynamics is one of the leading manufacturers of equipment for the plastics processing industry, recording sales of approximately USD 27.1 million in 2007 and employing 120 people. Piovan, based in Santa Maria di Sala, Italy, is a strategic investor in the plant engineering sector for the plastics processing industry who would like to expand in the USA. For Mann+Hummel, this sale represents an important step towards concentrating on core business in the Nafta region.
The equipment and systems manufacturer Universal Dynamics has formed part of the Mann+HummelGroup since 1995, reporting to Mann+Hummel ProTec with Head Office in Bensheim, Germany. From 1st October 2008, Mann+Hummel ProTec, which also manufactures equipment and systems for the plastics processing industry in Europe, will be further extended following integration into the industrial filters division as a separate business area.
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