NEWSMAKERS

By Staff -- Modern Materials Handling, 2/1/1998

Crown Simplimatic, Inc. has concluded its acquisition of the assets of bankrupt Ortmann + Herbst GmbH (O+H) for an undisclosed price. Acquired assets include the O+H facility in Hamburg, Germany, whose manufactured items include high-speed bottle and can fillers, and beverage preparation and processing systems. In 1996, O+H reported sales of $84.25 million.

O+H is well known as an advanced technology manufacturer of fillers, beverage preparation systems, and bottle washing systems. "The addition of these products will enable Crown Simplimatic to enhance its position significantly as a global supplier to the beverage and food industries," he adds.

Two U.S. companies, Daewoo Machinery Corporation and Daewoo Equipment Corporation, have merged to form a $350 million company with headquarters in Carlstadt, N.J. The merged firms will be called Daewoo Heavy Industries America Corporation.

The most immediate change will be the consolidation of parts operations and distribution in Suwanee, Georgia.

The company's principal shareholder is Daewoo Heavy Industries, Ltd., the largest manufacturing company in South Korea, with annual revenues of $6 billion. Appointed as president and CEO is Heung Yun Lee, former president of Daewoo Machinery Corporation.

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