Schuler AG reorganises following Müller Weingarten acquisition
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Following the acquisition of Müller Weingarten, Schuler AG has announced the sale of non-core activities and property.
[] Schuler will sell the Die Casting Technology division of Müller Weingarten Oskar Frech GmbH + Co. KG, Schorndorf, Germany;
[] Schuler Hydrap GmbH & Co. KG will be relocated from Plüderhausen, Germany to Esslingen, Germany;
[] Schuler will sell the real estate in Plüderhausen, Germany to Oskar Frech GmbH + Co. KG, Schorndorf, Germany.
No redundancies will result from these measures.
Jürgen Tonn, CEO of Schuler AG states: “We are selling the die casting division as it no longer belongs to the core business activities of the new joint company. At the same time, we are also reorganizing our subsidiary Schuler Hydrap.”
Founded in 1974, Schuler Hydrap has been a member of the Schuler Group for 10 years and will remain an important component of the company, it is stated.
The integration of Müller Weingarten into Schuler AG is due to be completed in the first quarter of 2008.
