TGW sells US conveyor factory to MHS
13 January 2021
With the sale, TGW has adjusted its strategic portfolio and is focusing on the growing integration business in North America.
TGW Logistics Group will sell certain of its US conveyor assets located in Norton Shores (Michigan) to Material Handling Systems, Inc. (MHS).
The contract between the two companies has been signed and the acquisition is expected to take effect in February 2021. Financial terms for the transaction were not disclosed.
TGW made its entry into the US market more than 15 years ago with the acquisition of the material handling equipment producer Ermanco. Since then, the locally produced equipment has been used in projects throughout North America.
MHS represents a strategic investor which will integrate the product line into its existing portfolio, take over the associated employees and sustainably develop the business.
For more information, visit www.tgw-group.com