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Southern Manufacturing

Farnborough, Hants(GU14 6TQ)

20/04/2021 - 22/04/2021

Southern Manufacturing and Electronics is the most comprehensive annual industrial exhibition in the (more)

PPMA Show 2021

NEC, Birmingham(B40 1NT)

28/09/2021 - 30/09/2021

PPMA Show 2021 will be the UK’s largest ever event dedicated to state-of-the-art processing and (more)

Advanced Engineering 2021

NEC Birmingham(B40 1NT)

03/11/2021 - 04/11/2021

Join us in our 12th and most important edition to date, as we invite engineers and management from all (more)

Altra completes acquisition of Stromag

Altra completes acquisition of Stromag

Altra Industrial Motion, a global manufacturer and marketer of electromechanical power transmission and motion control products, has closed on the acquisition of the Stromag business from GKN. Stromag generated approximately 131 million euros in revenue in 2015, and the acquisition is anticipated to be accretive to Altra’s earnings in 2017, excluding any one-time or acquisition-related costs.

The acquisition cost comprised the assumption of debt totalling approximately 14 million euros and a cash consideration of approximately 184 million euros and is subject to normal adjustments related to working capital and other reconciling items.

“Stromag provides Altra with complementary products, increased presence in key geographic regions and penetration into new growth end markets,” said Carl Christenson, chairman and CEO of Altra. “It has a strong reputation, and its highly engineered clutches, brakes, torsional couplings and limit switches serve as excellent product extensions for Altra. We are excited to welcome the more than 700 Stromag employees to the Altra family.”

 

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