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Schmidt plans Swiss merger
3rd May 2007, Page 17
3rd May 2007
Page 17
Page 17, 3rd May 2007
— Schmidt plans Swiss merger
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THE GERMAN PARENT of Schmidt UK has agreed to merge with Swiss company Aebi.
If the deal is approved by the German and El: authorities, it will create a £200m-turnover operation trading as Aebi Schmidt Group. It will be based in Switzerland with factories in Germany, the Netherlands. Sweden and Poland.
Schmidt Holding director Matthais Riese says: "There are fewer players in the market and they tend to be bigger. It's important for us to become a bigger player so we are better able to corn pete."
He adds that the focus of growth would be on the sweeper business because "we have synergies in this area".