PITTSBURGH, June 21, 2022 (GLOBE NEWSWIRE) — Matthews International Corporation (NASDAQ GSM: MATW) announced today that the company has signed an agreement to acquire German-based engineering firms, OLBRICH GmbH (“OLBRICH”) and R+S Automotive GmbH (“R+S Automotive”), for €43 million (approximately US$45 million). OLBRICH and R+S Automotive have combined annual sales of more than $100 million. OLBRICH, headquartered in Bocholt, Germany, is a manufacturing and intelligent equipment manufacturer specializing in purpose-built rotary processing equipment, including equipment used in the production of dry and wet electrodes for lithium-ion batteries and components for hydrogen fuel cells used in electric vehicles, with additional strong positions in Specialty & Pharma, Packaging and Home & Décor. R+S Automotive is a specialist technical service provider of automation, installation and tool concepts for car manufacturers all over the world. The closing of the transaction is subject to certain regulatory approvals, which are expected to be secured in a timely manner in July 2022.
Joseph C. Bartolacci, President and Chief Executive Officer of Matthews International, said: “We are delighted to announce the acquisitions of OLBRICH and R+S Automotive as part of our long-term strategy to provide turnkey processing equipment and services for the fast-growing electric vehicle company. We see our combined capabilities as a unique offering that will have a significant impact on the electric vehicle industry and benefit the entire energy solutions industry. Together, these acquisitions are an important investment and part of a procurement strategy to become a major player in the fast-growing energy sector.”
Gregory S. Babe, Chief Technology Officer of Matthews International, continued: “Our combined engineering capabilities extend the entire Saueressig Group portfolio, including battery and fuel cell component manufacturing, line conversion, coating, drying, web and roller handling and automated Guided Vehicles (AGV) integration, enhancing our global expansion into broader global markets.This strategic acquisition continues our investment in technologies and accelerates the commercialization of new innovations and combined capabilities for multiple automotive, surface and industrial automation applications .”
“With Matthews International, we have not only gained a strategic investor, but at the same time a partner for the OLBRICH Group with an excellent international reputation,” explains Bastian Kuhl, CEO of OLBRICH and R+S Automotive. “We also share common values and goals. These are the best conditions to effectively combine our conversion and automation competences and thus successfully tackle future business areas such as new energies or “green packaging” together. We look forward to implementing our growth strategy in the future as part of the Matthews Group.”
About Matthews International Corporation
Matthews International Corporation is a global provider of industrial technologies, commemorative products and branded solutions. The Industrial Technologies segment designs, manufactures, maintains and distributes high-tech custom energy storage, marking, coding and industrial automation technologies and solutions. The Memorialization segment is a leading supplier of commemorative products, including memorials, coffins, and cremation and incinerator equipment, primarily to cemeteries and funeral home customers helping families move from grief to remembrance. The SGK Brand Solutions segment is a leading provider of packaging solutions and brand experiences, helping companies simplify marketing, amplify their brands and deliver value. The company has approximately 11,000 employees in more than 26 countries on six continents who are committed to providing the highest quality products and services.
About the SAUERESIG group
SAUERESIG Group brings together the packaging, elastomers, surface, engineering, rollers and e.GEN business units under a common umbrella brand. As a leading international supplier of prepress and rotary tools for gravure and flexographic printing processes, embossing rolls and cutting and creasing tools, the SAUERESIG Group offers extensive expertise. SAUERESIG works on forward-looking research projects and invests in the development of intelligent workflows and digital solutions. As an innovator for special mechanical engineering in the field of future-oriented battery and energy storage technology, individual solutions are developed for the pioneers of tomorrow. Brand manufacturers, printers and converters as well as renowned manufacturers of modern energy storage technologies benefit from solution-oriented innovations, decades of experience and maximum flexibility. The SAUERESIG Group currently has a strong global network within 13 production sites. Global presence enables optimal development, implementation and support of international projects at any time.
SAUERESIG Group is part of Matthews International Corporation (NASDAQ GSM: MATW). For more information, visit: www.saueressig.com
OLBRICH GmbH was founded in 1949 and together with its Polytype Converting® brand, today the machine builder has become one of the world’s leading companies in the field of production machines and equipment for the manufacture of web-shaped products. Battery films, labels, release materials, sustainable paper and packaging materials, as well as wall coverings, floor coverings, adhesive tapes and technical textiles are exemplary products that are produced on the lines. OLBRICH has a full value chain, including engineering and manufacturing, as well as state-of-the-art technical centers in Bocholt (DE) and Friborg (CH). Today OLBRICH has approximately 450 employees. OLBRICH is headquartered in Bocholt (DE) and has additional locations in Hamburg (DE), Friborg (CH) and Jiangyin City (CN).
About R+S Automotive
R+S Automotive GmbH is a major manufacturer of machines and tools for the production of interior and exterior components for the automotive industry, such as door panels, dashboards or rear panels. R+S Automotive has a fully integrated value chain, including engineering and manufacturing, as well as a 1,100 m² technical center designed to support comprehensive engineering services and customer-centric development. Today R+S Automotive has approximately 350 employees. R+S Automotive is headquartered in Bocholt (DE) and has additional subsidiaries in Holoubkov (CZ), Jiangyin (CN) and Comstock Park, MI (USA).
All forward-looking statements contained in this press release are incorporated in accordance with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks and uncertainties that could affect the Company’s actual results in the future. cause periods to differ materially from management’s expectations. While the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove correct. Factors that could cause the Company’s results to differ materially from those discussed in such forward-looking statements include primarily changes in domestic or international economic conditions, changes in foreign currency exchange rates, changes in the cost of materials used in the manufacture of products, changes in death and cremation rates, changes in product demand or prices due to consolidation in the industries in which the company operates, or other factors such as supply chain disruptions, labor shortages, or increases in labor costs , changes in product demand or pricing due to domestic or international competitive pressures, ability to achieve cost reduction targets, unknown risks associated with company acquisitions, cybersecurity concerns, effectiveness of the i internal controls of the company, compliance with domestic and foreign laws and regulations, technological factors beyond the control of the company, the impact of pandemics or similar outbreaks or other disruptions to our industries, customers or supply chains, the impact of global conflicts, such as the current war between Russia and Ukraine, and other factors described in the company’s annual report on Form 10-K and other periodic filings with the U.S. Securities and Exchange Commission.
Matthews International Corporation
Two North Shore Center
Pittsburgh, PA 15212-5851
Phone: (412) 442-8200
For investor relations:
William D. Wilson
Senior Director, Corporate Development and Investor Relations
Steven F. Nicola