mpm: The Neverending Story
Demag Holding S.à.r.l., Luxembourg, has sold mannesmann plastics machinery (mpm), whose headquarters are in Munich/Germany. A binding sales contract to this effect was signed on 26 May. The management of mpm and strategic investors, represented by Madison Capital Partners, Chicago, are acquiring 100 % of the shares from Demag Holding. The holding company has not divulged the purchase price. The deal is being externally financed by the HVB Group. The various parties expect the transaction to have been concluded by the end of July.
Following the sale last spring of the French injection moulding machine maker Billion, mpm now owns four autonomous brands: Berstorff, Demag Plastics Group, Krauss-Maffei Kunststofftechnik and Netstal. In fiscal 2004/5 just past, the group of companies generated sales of roughly EUR 1.3 billion.
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