Jungheinrich buys MIAS Group

News Story
- 20 Aug 2015 ( #732 ) - Hamburg, Germany
1 min read
MIAS heavy-duty stacker crane
MIAS heavy-duty stacker crane
Jungheinrich has expanded its logistics systems profile with the acquisition of the MIAS Group. The acquisition price has not been disclosed and the transaction is scheduled to settle in the fourth quarter of 2015. Jungheinrich says the acquisition is "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 auto-mated 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 EUR40 million (USD44.1 million) 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 divi-sion 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.
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