By Liz White, ERJ staff
Weinheim, Germany-Freudenberg & Co. has acquired most of Euro 92-million turnover seal maker Burgmann Dichtungswerke, headquartered in Wolfratshausen, Germany, following approval by the German Federal Cartel Office.
â€œWith the acquisition, we are implementing our strategy to grow outside of the automotive sector in a technologically demanding market,â€ said Dr Peter Stehle a Freudenberg board member.
According to Freudenberg, 120-year-old Burgmann is â€œone of the world's leading mechanical seals producers and the market leader in Germany.â€
The business, which has little or no overlap with Freudenberg's other operations in automotive and general industrial seals, will operate as a new Freudenberg division, to be called Burgmann Industries GmbH & Co. KG.
Burgmann has a global workforce of some 3300, 1100 at its German sites in Wolfratshausen and Eurasburg and at various service centres.
The activities Freudenberg is buying-mechanical seals, expansion joints and some automotive business-expand the group's sealing activities.
The two firms are not revealing the purchase price.