AstenJohnson and Heimbach to Merge PMC Businesses
AstenJohnson and Heimbach are in advanced negotiations to merge the Paper Machine Clothing and Advanced Fabric businesses of both companies.
April 12, 2019 - The shareholders and boards of AstenJohnson and Heimbach are in advanced negotiations to merge the Paper Machine Clothing and Advanced Fabric businesses of both companies. Together they employ over 3,400 employees globally, with manufacturing facilities in North America, Europe and Asia. The merger is subject to further due diligence and approval by competition law authorities and is expected to close in the second half of 2019. The Heimbach Technical Textiles and Filtration businesses and the AstenJohnson Eagle Nonwovens and Foss Performance Materials businesses will not be part of the transaction. Together, AstenJohnson and Heimbach share a history of family ownership that dates back well over 200 years. This common foundation will result in exceptional value and support for our customers globally. In addition, the companies believe this long-term orientation and ability to exceed customer expectations will ensure ongoing stability for employees worldwide. “AstenJohnson and Heimbach have a lasting association as global partners in technology. There is a deep respect between these two companies, noted for their quality of people, inventive solutions and products. The combination of AstenJohnson and Heimbach presents an unparalleled opportunity to provide our customers in the pulp and paper industry with a unique world-class suite of products, services and solutions,” the companies said in a press release. “As we get regulatory approval and move forward, we will provide our employees and customers with additional details regarding our next steps to unlock the value in this merger,” they added. About Heimbach GroupHeimbach is one of the world's leading suppliers of innovative products and services supplying Paper Machine Clothing to the paper industry. Their main expertise is in development, manufacture and sales of forming fabrics, press felts, dryer fabrics and transfer belts for paper machines. AstenJohnson is a global manufacturer of pulp & paper machine clothing, advanced and filtration fabrics, filaments, and nonwoven fabrics for filtration, automotive, cured-in-place piping and composites. To learn more, please visit: www.astenjohnson.com. SOURCE: AstenJohnson |