LOI Thermprocess GmbH, a subsidiary of Tenova, has signed an agreement with European Capital S.A. SICAR for the acquisition of the Metall Technologie Holding Group (MTH). MTH is headquarted in Menden (Germany) and controls Schmetz, Mahler and IVA in Germany, BMI in France and Huisen in China.
The MTH group, a leading provider of industrial vacuum and atmospheric furnaces, currently employs 320 people with a turnover of around €65 million. MTH currently serves an installed base of around 2,500 heat treatment furnace units.
“This acquisition reinforces Tenova’s position in the heat treatment furnace industry”, stated Alberto Iperti, CEO of Tenova, “MTH adds a growing segment with a high quality product, production process and after-sales services.”
Gianfelice Rocca, Techint Group Chairman added, “The acquisition of MTH confirms the growth of Tenova in Germany. Tenova’s total number of employees in Germany will approach 1000 across a variety of industrial companies with significant technology intensity such as MTH itself and the other Tenova’s subsidiaries including LOI Thermprocess GmbH, Takraf GmbH and Re Energy GmbH.”
Posted by: Paul Whittaker, Editor ipmd.net, [email protected]