SMS Meer acquires Schumag Machinery Segment - 0 views
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Susanna Keung on 26 Nov 08SMS Meer GmbH, a company within the SMS Group, has recently taken over Schumag AG's machinery segment. Since the product ranges of the two companies are complementary, no jobs will be endangered as a consequence of the purchase, a member of the executive board of Schumag said. About 300 of the total 1,000 of Schumag employees will work for the new company, SMS Schumag GmbH & Co. KG. Through the purchase of the Schumag Machinery Segment SMS Meer is expanding its product range and opening up further potential for growth of the SMS group as part of its global presence.