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Jungheinrich expands Logistics Systems Business with acquisition of MIAS Group
Jungheinrich continues to enlarge the footprint it has as a logistics systems provider. To this end, Jungheinrich AG signed an agreement regarding the acquisition of the MIAS Group with its owners. The parties agreed not to disclose the acquisition price. Subject to the customary conditions precedent, the transaction is scheduled to be consummated in the fourth quarter of 2015.
The acquisition is a further building block in the resolute implementation of the Jungheinrich Group’s growth strategy and a major step en route to enlarging the global footprint of the strongly expanding logistics systems business. By acquiring the MIAS Group, Jungheinrich is enlarging its technology portfolio in the field of automated warehouse solutions. “With the MIAS Group, we will continue to expand our logistics systems business substantially,” says Hans-Georg Frey, Chairman of the Board of Management of Jungheinrich AG.
Headquartered in Munich, the MIAS Group is an international equipment manufacturer in the warehousing and transportation technology sectors, where it offers stacker cranes and load handling equipment. In the 2014 financial year, the group generated about 40 million euros in net sales. MIAS has over 300 employees at five locations in Germany, Hungary, China, the USA and Italy.
The MIAS Group will be integrated into Jungheinrich AG’s Logistics Systems division and continue to offer its products independently under the MIAS brand name. The current Board of Directors of the MIAS Group, consisting of Wolfgang Büttner and Dr. Johannes Fottner, will continue to run the company after it has been acquired by Jungheinrich and report directly to Dr. Klaus-Dieter Rosenbach, the member of the Board of Management of Jungheinrich AG responsible for the logistics systems mandate. Wolfgang Büttner: “In a global competitive arena undergoing significant change, this transaction represents a major step in the continuous development of the MIAS Group.”
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