Dematic, a global supplier of integrated material handling solutions and services, has signed an agreement in principle to purchase HK Systems, a North American automated material handling and software solutions provider. The transaction is expected to close sometime in the third quarter of 2010, according to announcements from both companies.
"With the addition of HK Systems and its highly complementary market focus, Dematic will be able to provide customers throughout the world an enhanced solutions offering. We can now leverage our respective expertise and experience in serving the supply chain logistics market not only in North America but globally, to deliver added value to both existing and potential customers," said Roar Isaksen, president and CEO of Dematic Group.
Both companies have expertise in designing, delivering and supporting comprehensive material flow solutions. The combined product portfolios and solution sets will offer customers a wider range of material handling systems and services. Also, the combined companies will be able to provide an end-to-end solution footprint for a wider variety of market sectors from manufacturing to distribution.
"HK Systems' logistics capabilities and integration strength will give the joint organization expanded opportunities to grow in new vertical markets in North America and beyond," said John Splude, executive chairman of HK Systems.
The acquisition, which is expected to close in the third quarter of 2010, is subject to customary closing conditions including regulatory approvals from relevant authorities in the United States.
Source: Dematic, HK Systems
Enjoy curated articles directly to your inbox.