Matthews International Acquires OLBRICH GmbH and R+S Automotive GmbH, Extends Engineering Capabilities for Energy
PITTSBURGH, Aug. 17, 2022 (GLOBE NEWSWIRE) -- Matthews International Corporation (NASDAQ GSM: MATW) announced today that the Company has closed on the previously-announced acquisitions of German based engineering firms, OLBRICH GmbH (“OLBRICH”) and R+S Automotive GmbH (“R+S Automotive”), for EUR €43 million (approximately U.S. $45 million).
Headquartered in Bocholt, Germany, OLBRICH is a production and intelligent equipment manufacturer, specializing in purpose-built rotary processing equipment, including equipment used in the manufacturing of dry and wet electrodes for lithium-ion batteries uses in electric vehicles and components for hydrogen fuel cells and electrolyzers, with additional strong positions in Specialty & Pharma, Packaging and Home & Décor. R+S Automotive is a specialty engineering services provider of automation, plant and tooling concepts for automotive manufacturing companies around the world. The Company plans to integrate OLBRICH and R+S Automotive with its Saueressig Engineering and Energy business, part of its Industrial Technologies segment focused on high-precision engineering for a broad range of industrial automation applications including high-tech custom energy solutions, surfaces, marking, and coding systems.
Joseph C. Bartolacci, President and Chief Executive Officer of Matthews International, stated, “We are extremely excited to acquire OLBRICH and R+S Automotive as part of our long-term strategy to offer an extended portfolio of purpose-built engineered equipment and services for the burgeoning electric vehicle and broader green energy market. Our combined capabilities offer innovative solutions to accelerate development of an end-to-end solution for dry-electrode battery production and other energy solutions. Together, our offering will have significant impact on the mass market adoption of electric vehicles and benefit the entire energy solutions industry. This strategic acquisition continues our investment in technologies and accelerates commercializing new innovations across multiple industrial automation applications.”
“Matthews is the right partner for our future,” said Bastian Kuhl, CEO of OLBRICH and R+S Automotive. “OLBRICH, like Matthews, is making great strides in helping to scale up the manufacturing of hydrogen fuel cell components. With OLBRICH’s recent order for a mass production line for gas diffusion layers (GDL), and Matthews’ strength in the field of bipolar plates, our combined portfolio is well positioned to create a market force not only as a supplier to OEMs but also as a key production partner across Energy, Specialty & Pharma, Packaging and Home Décor.”
With the acquisition of OLBRICH and R+S Automotive, Matthews International expands its global presence and solidifies itself as a key player in the energy solutions sector.
About Matthews International Corporation
Matthews International Corporation is a global provider of industrial technologies, memorialization products and brand solutions. The Industrial Technologies segment designs, manufactures, services and distributes high-tech custom energy storage, marking, coding and industrial automation technologies and solutions. The Memorialization segment is a leading provider of memorialization products, including memorials, caskets and cremation and incineration equipment, primarily to cemetery and funeral home customers that help families move from grief to remembrance. The SGK Brand Solutions segment is a leading provider of packaging solutions and brand experiences, helping companies simplify their marketing, amplify their brands and provide value. The Company has approximately 11,000 employees in more than 26 countries on six continents that are committed to delivering the highest quality products and services.
About SAUERESSIG Group
SAUERESSIG Group brings together the business units packaging, elastomers, surfaces, engineering, rollers and e.GEN under a common umbrella brand. As a leading international supplier along the pre-press stage as well as of rotary tools for gravure and flexographic printing processes, embossing rollers and cutting and creasing tools, SAUERESSIG Group offers a comprehensive expertise. SAUERESSIG works on forward-looking research projects and invests in the development of intelligent workflows and digital solutions. As an innovator for special machine construction in the field of future oriented battery and energy storage technology, individual solutions are developed for pioneers of tomorrow. Brand manufacturer, printers and converters as well as renowned manufacturers of modern energy storage technologies benefit from solution-oriented innovations, decades of experience and maximum flexibility. Within currently 13 production sites SAUERESSIG Group has a strong global network. Worldwide presence enables an optimal development, implementation and support of international projects at any time.
SAUERESSIG Group is part of Matthews International Corporation (NASDAQ GSM: MATW). For more information please visit: www.saueressig.com
About OLBRICH
OLBRICH GmbH was founded in 1949 and together with its brand Polytype Converting®, the machine builder has today become one of the world's leading companies in the field of production machinery and equipment for the manufacture of web-shaped products. Battery foils, labels, release materials, sustainable paper and packaging materials as well as wallcoverings, floorcoverings, adhesive tapes and technical textiles are exemplary products manufactured on the lines. OLBRICH has a full value chain including engineering and manufacturing as well as state-of-the-art technical centers in Bocholt (DE) and Fribourg (CH). Today, OLBRICH has approximately 450 employees. OLBRICH is headquartered in Bocholt (DE) and has additional locations in Hamburg (DE), Fribourg (CH) and Jiangyin City (CN).
About R+S Automotive
R+S Automotive GmbH is an important manufacturer of machines and tools for the production of interior and exterior components for the automotive industry, such as door panels, dashboards or rear shelves. R+S Automotive has a fully integrated value chain including engineering and production as well as a technical center on an area of 1,100 sqm designed to support comprehensive technical services and customer-oriented development. Today, R+S Automotive has approximately 350 employees. R+S Automotive is headquartered in Bocholt (DE) and has additional subsidiaries in Holoubkov (CZ), Jiangyin (CN), and Comstock Park, MI (USA).
Forward-looking Information
Any forward-looking statements contained in this release are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks and uncertainties that may cause the Company’s actual results in future periods to be materially different from management’s expectations. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove correct. Factors that could cause the Company's results to differ materially from the results discussed in such forward-looking statements principally include changes in domestic or international economic conditions, changes in foreign currency exchange rates, changes in the cost of materials used in the manufacture of the Company's products, changes in mortality and cremation rates, changes in product demand or pricing as a result of consolidation in the industries in which the Company operates, or other factors such as supply chain disruptions, labor shortages or labor cost increases, changes in product demand or pricing as a result of domestic or international competitive pressures, ability to achieve cost-reduction objectives, unknown risks in connection with the Company's acquisitions, cybersecurity concerns, effectiveness of the Company's internal controls, compliance with domestic and foreign laws and regulations, technological factors beyond the Company's control, impact of pandemics or similar outbreaks, or other disruptions to our industries, customers, or supply chains, the impact of global conflicts, such as the current war between Russia and Ukraine, and other factors described in the Company’s Annual Report on Form 10-K and other periodic filings with the U.S. Securities and Exchange Commission.
| Contact: | Steven F. Nicola Chief Financial Officer 412.442.8262 |
For Investor Relations:
William D. Wilson
Senior Director, Corporate Development and Investor Relations
412.325.8418
To view this piece of content from ml.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
GlobeNewswire by notifiedGlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Flex LNG - Annual General Meeting 202230.9.2022 16:38:09 CEST | Press release
FLEX LNG LTD. (the “Company”) advises that the 2022 Annual General Meeting of the Shareholders of the Company was held on September 30, 2022 at 09:30 a.m. at Par-la-Ville Place, 4th Floor, 14 Par-la-Ville Road, Hamilton Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2021 were presented to the Meeting. In addition, the following resolutions were passed: 1. To set the maximum number of Directors to be not more than eight. 2. To resolve that vacancies in the number of Directors be designated as casual vacancies and that the Board of Directors be authorised to fill such vacancies as and when it deems fit. 3. To re-elect David McManus as a Director of the Company. 4. To re-elect Ola Lorentzon as a Director of the Company. 5. To re-elect Nikolai Grigoriev as a Director of the Company. 6. To re-elect Steen Jakobsen as a Director of the Company. 7. To elect Susan Sakmar as a Director of the Company. 8. To re-appoint Ernst & Young AS of Os
Agfa’s inkjet printing solutions conquer five Pinnacle Product Awards30.9.2022 16:00:00 CEST | Press release
Agfa sets a record as five of its inkjet printing solutions received a Pinnacle Product award from PRINTING United Alliance. The Pinnacle Product Awards recognize products that improve or advance the printing industry with exceptional contributions in quality, capability, and productivity. Carlstadt, NJ, USA / Mortsel, Belgium – September 26, 2022 “The fact that we outperformed competitors in every major print category that we play in, is a testament to our dedication to deliver innovative technology with superior performance and reliability to print service providers. We are extremely honored to receive this recognition”, said Vincent Wille, President of Digital Print and Chemicals at Agfa. The following Agfa products won top honors: Avinci CX3200– category RTR dye-sublimation on textile (more than $100k) This new 3.2 meter wide textile printer produces vibrant high-quality prints on a wide range of polyester-based fabrics for indoor or outdoor soft signage, interior decoration, and f
Madison Newbond Hotel Lending Platform Originates $20 Million Loan for the Balfour Hotel in Miami Beach30.9.2022 14:00:00 CEST | Press release
NEW YORK, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Madison Newbond, the institutional lending platform of Madison Realty Capital and Newbond Holdings that provides first mortgages, mezzanine loans and preferred equity to hotel owners and developers nationwide, today announced that it has provided a $20 million loan to FullG Capital’s equity sponsorship group for the acquisition of the Balfour Hotel Miami Beach (the “Balfour”), an independent boutique hotel located at 350 Ocean Drive in Miami Beach, Florida. Located within Miami’s famed South Beach Art Deco District and situated less than one block from the beach, the Balfour contains 82 guestrooms across two towers, as well as an upscale restaurant and bar, an outdoor plunge pool, complimentary beach services, and approximately 1,300 square feet of rooftop terrace space. The hotel is managed by Driftwood Hospitality Management under a third-party hotel management agreement. Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capi
Prosafe SE: Safe Boreas extended on UK contract30.9.2022 12:56:45 CEST | Press release
The client chartering the Safe Boreas to provide gangway connected operations to support a platform shutdown in the UK North Sea has exercised the first of two 15-day options. The value of the extended period is approximately USD 2.1 million. Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to https://www.prosafe.com Stavanger, 30 September 2022 Prosafe SE For further information, please contact: Jesper K. Andresen, CEO Phone: +47 51 65 24 30 / +47 907 65 155 Reese McNeel, CFO Phone: +47 47 51 64 25 17 / +47 415 08 186 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Notice on Convocation of Extraordinary General Meeting of Shareholders of AB Klaipėdos nafta30.9.2022 08:00:00 CEST | Press release
Notice is hereby given that on the initiative and by the resolution of the Board of AB Klaipėdos nafta, legal entity code 110648893, with the registered office at Burių str. 19, Klaipeda (hereinafter - the Company), Exraordinary General Meeting of Shareholders of the Company will be held on 20 October 2022 at 1:00 p.m. The meeting will be held in the Company’s office at Buriu str. 19, Klaipeda, in the administrative office of the Company (in the hall of the meeting on the 2nd floor). Agenda of the meeting: Approval of amendment of Remuneration Policy of AB Klaipėdos nafta. The shareholders will be registered from 12:00 a.m. to 12:55 p.m. The persons intending to participate in the meeting shall have a personal ID document (an authorized representative shall have an authorization approved under the established procedure. The natural person’s authorization shall be notarized. An authorization issued in a foreign state shall be translated into the Lithuanian language and legalized under t