SMS to hive off major part of its extrusion technology businesses to Triton

08-Mar-07

SMS has sold a major part of its extrusion technology businesses to private equity firm Triton. Subject to approval by competition authorities, the companies to be acquired by Triton are, Battenfeld Extrusiontechnik (in Germany), SMS Extrusion Kempen (Germany), American Maplan Corp (US), Battenfeld Extrusion Systems (China) and Cincinnati Extrusion (companies in Austria, US and China). The companies have annual sales of approximately €200 mln. Battenfeld Gloucester is the only plastics machinery business still owned by SMS. The sale has resulted due to SMS refocusing on its core businesses of metallurgical machinery and plant production. In October 2006, SMS sold Battenfeld Kunststoffmaschinen, the injection moulding machinery business, to private equity group Adcuram Industriekapital.