Interroll reaches agreement to acquire Portec Group International
The Interroll Group, a leading global manufacturer of core products for internal logistics, expanded its global portfolio in the area of highly efficient conveyor belt curves and other solutions with the signing of a definitive agreement to acquire Portec Group International.
Interroll will finance the acquisition with cash. The purchase price was not disclosed, the acquisition is expected to close on 1st July 2013.
The U.S. acquisition is part of the Interroll Group strategy to expand its global leadership role in the material handling and internal logistics key products. With over 60,000 installations in airports, distribution centers and courier and postal services, the curves of Portec have for decades been among the industry’s leading products.
“The product portfolio of Portec is an excellent complement to our existing range of solutions. The technological expertise Portec has on belt curves for medium and heavy duties will enable us to continue to open up new business areas for our customers worldwide. At the same time, the strong U.S. presence of Portec will facilitate and accelerate our access to the market for other products significantly,” said Paul Zumbühl, chief executive officer of Interroll.
“The integration of Portec in the world’s leading Interroll group is the best way to consistently take advantage of growth opportunities and continuing our long-term success in a global market,” says Marco A. Oropeza, CEO of Portec. “After the integration with Interroll, our customers can continue to have access to our products and services portfolio - while benefiting from a stronger business partner, offering complementary solutions, access to international markets, industry expertise and long-term stability.”