Wacker Completes Acquisition Of Weidemann

Posted on December 2, 2005

Following approval by antitrust authorities, Wacker Construction Equipment AG, Munich, Germany, has concluded its takeover of Weidemann Holding GmbH, Paderborn, Germany. Financial details were not disclosed.

Wacker anticipates the takeover and organic growth measures to boost sales for the ongoing year by approximately 12% to more than €460 million for 2005, as compared to €411 million in 2004. The number of employees will increase to 2500.

The acquisition will extend Wacker's product line in a new direction, as Weidemann's products will be sold with modifications to the construction industry under the Wacker name. The Weidemann brand will be preserved in the agricultural sector.