Ammann acquires Elba
By Chris Sleight11 February 2014
Ammann Group has agreed to acquire concrete mixing plant manufacturer Elba-Werk. Ammann said the addition of Elba was an ideal complement to its existing asphalt mixing plant and road building machine divisions.
Switzerland-based Ammann said the acquisition of Elba would strengthen its position on the international market for concrete mixing plants. Founded in 1948 and headquartered in Ettlingen, Germany, Elba has a customer base across Central Europe, the CIS, Middle East and North Africa. Elba employs 130 people and they will transfer to Ammann along with the existing management team.
Ammann Group CEO Hans-Christian Schneider said, “We are delighted to have found in Elba the ideal partner in the concrete plant segment. We are now in a position to meet the needs of our customers worldwide with well-established, high-quality concrete plants developed and manufactured in Germany.”
Axel Bullinger, former managing director of Elba and now managing director of the new Ammann subsidiary in Ettlingen said, “Integration into the Ammann Group and investments in the site will provide the security and opportunity to continue improving and marketing our products in the long term under the roof of a globally operating corporation. The existing network of Ammann subsidiaries and contract partners will bring us even closer to our customers. I am convinced that the extended product portfolio is a decisive step forward both for Ammann and my team in Ettlingen”.
The parties have agreed not to disclose the purchase price. The deal is expected to close in March 2014 following approval by competition authorities by the cartel authorities.