Krones expands its capabilities in process technology with the acquisition of US company Ampco Pumps
In the 2022 fiscal year, Ampco Pumps generated with a workforce of more than 130 employees revenue of approx. US$50 million and a high EBITDA margin. The transaction will increase the profitability margin of the “Process Technology” segment as well as the group margin of Krones. Current Ampco management will remain and will continue to hold 10% of the shares of Ampco. Krones has an option to buy the 10% of the shares in the future.
The acquisition of Ampco Pumps is a major step in expanding the components business of Krones Processing. With Ampco Pumps and Evoguard Valve Technology Krones has now a broad portfolio of all key components for the processing technology market. In addition, the businesses of the two companies complement each other perfectly in regional terms.
The transaction is subject to approval under the relevant antitrust legislation. Krones expects the transaction to be completed (closing) within the first half of 2023. As of the closing date, Krones will consolidate the figures of Ampco Pumps in the "Process Technology" segment.
The Krones Group, headquartered in Neutraubling, Germany, plans, develops and manufactures machines and complete lines for the fields of process, filling and packaging technology. And Krones also offers a fit-for-purpose solution for bottle-to-bottle recycling of PET containers. The product portfolio subsumed in the House of Krones is rounded off by numerous products and services from Krones’ subsidiaries, themed around digitalisation, for example, digital container decoration, intralogistics and in-house valve production. Every day, millions of bottles, cans, and special-shaped containers are handled on lines from Krones, particularly in breweries, the soft-drinks sector and at producers of still or sparkling wines, and spirits, but also in the food and luxury-goods industries, plus the chemical, cosmetics and pharmaceutical sectors. Worldwide, Krones employs around 17,200 people. Consolidated sales in 2022 totalled 4.209 billion euros. Around 90 per cent of its products are sold abroad. The group includes not only Krones AG (listed on the stock exchange), but also more than 100 subsidiaries and further sales and service companies worldwide.
Krones AG
Böhmerwaldstr. 5
93073 Neutraubling
Telefon: +49 (9401) 700
Telefax: +49 (9401) 703323
http://www.krones.com
Press Relations
Telefon: +49 (9401) 70-5924
E-Mail: peter.moertl@krones.com
