- Matthews International Corp (NASDAQ:MATW) completed the acquisition of German-based engineering firms OLBRICH GmbH and R+S Automotive GmbH for €43 million (~$45 million).
- Headquartered in Bocholt, Germany, OLBRICH is a production and intelligent equipment manufacturer specializing in purpose-built rotary processing equipment.
- R+S Automotive is a specialty engineering services provider of automation, plant, and tooling concepts for automotive manufacturing companies worldwide.
- Matthews plans to integrate OLBRICH and R+S Automotive with its Saueressig Engineering and Energy business, part of its Industrial Technologies segment.
- The acquisitions align with MATW’s long-term strategy to offer an extended portfolio of purpose-built engineered equipment and services for the electric vehicle and green energy market.
- MATW held cash and equivalents of $45.85 million as of June 30, 2022.
- Price Action: MATW shares are trading higher by 0.74% at $27.34 on the last check Wednesday.
Biden’s Inflation Reduction Act Seen Cutting Up To $1.9 Trillion In Climate-Related Economic Damage, Latest Analysis Finds
The White House Office of Management and Budget (OMB) on Tuesday released its first published analysis of avoided climate-related social costs resulting from a piece of legislation.
