Schuler acquires die manufacturer
Schuler AG is to take over the die construction specialist Aweba and expand its activities in the business field. Under the terms of the purchase agreement, Schuler will acquire a 100% stake in Aweba Werkzeugbau GmbH Aue.
The transaction is still subject to the approval of the relevant anti-trust authorities. Aweba Werkzeugbau GmbH was previously held by private and institutional investors. The parties have agreed not to disclose any details about the purchase agreement.
Stefan Klebert, CEO at Schuler, commented: “We are delighted to add a successfully managed company like Aweba to our group. With its high level of expertise in research and development and excellent engineering know-how, the company is a perfect fit for Schuler. The acquisition is part of our growth strategy. Aweba complements our product portfolio in forming technology in line with market requirements and will expand and strengthen our existing activities in die construction.”
Udo Binder, CEO at Aweba, added: “Becoming a member of the Schuler Group opens up tremendous opportunities for the further expansion of Aweba. Schuler’s global market standing will enable us to quickly grow our international presence and enhance our profile as a global system supplier. This gives Aweba growth opportunities which would not have been achievable without Schuler.”
The Aweba takeover is Schuler’s second major acquisition in the last twelve months. Last year, the company acquired a majority stake in the Chinese press manufacturer Yadon with annual sales of around €110 million.