The hottest Siemens will acquire Morgan manufactur
2022-10-18- Detail
Siemens will acquire Morgan manufacturing company
through the acquisition of Morgan manufacturing company in Worcester, Massachusetts, the Siemens Industrial Solutions business unit (is) group will further consolidate its position in the field of metallurgical technology. Morgan manufacturing company is a design and manufacturer that provides high-quality rolling mill products and services for the global metallurgical industry. In 2006, Morgan reported sales of US $180million, with about 1100 employees in the United States, China, India, Britain and Brazil. Siemens will acquire 100% shares of Morgan manufacturing company, and all parties concerned agree not to disclose the purchase price. The transaction is subject to the approval of relevant departments
Morgan manufacturing company is a recognized leader in the field of rolling mill technology. Founded in 1888, the company has developed into a world-class supplier of wire rod nucleating agent 0.2~0.7 rolling mill equipment in the long material industry. It has designed and built more than 450 sets of wire rod, bar low thickness and billet rolling mills in more than 40 countries around the world. As a designer, manufacturer and service provider of high-speed wire rod mills, bar mills, combined mills and processing equipment for the steel and non-ferrous metal industry, Morgan manufacturing has achieved remarkable results. The company has patented technology of reducing/sizing mill, which can produce rolled products with faster speed, stricter tolerance and lower cost"through the acquisition of Morgan manufacturing company, we can combine its strong strength in the field of rolling mill equipment with our industrial automation know-how. The resistance on the other side cannot carry out the discussion on the installation and commissioning method of the instrument circuit of vibration and shaft displacement. Current limiting" said Dr. Richard Pfeiffer, CEO of Siemens VAI metallurgical technology company. "This measure strengthens our ability to lead the development direction of rolling mill and post-treatment technology. We will further improve the degree of standardization and enrich the strength of providing comprehensive technical solutions."
Philip R. Morgan, President and CEO of Morgan, said, "the two companies have a high degree of agreement. Morgan manufacturing company is a recognized leader in the design and manufacturing of wire rod mills, while Siemens VAI metallurgical technology company has a strong strength in bar mills. The two companies really complement each other's advantages, which will consolidate their positions in the field of flat mill technology." After joining Siemens, Morgan can make full use of Siemens' global resources, which is conducive to Morgan to further expand its share in the international market. "This will keep our manufacturing plants and employees stable for a long time," Morgan said. Partners said that Morgan manufacturing company will be included in Siemens' industrial solutions business department, which is subordinate to is VAI metallurgical technology company headquartered in Linz, AustriaSiemens VAI Metallurgical Technology (MT) is one of the world's leading engineering design and equipment manufacturing companies in the steel industry, aluminum flat rolling and open pit mining. MT is composed of Austria Linz VAI engineering technology company and Siemens' electrical engineering products and automation solutions business merger, providing complete process technology and integrated automation solutions and services for metallurgical enterprises throughout the process
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