One of the UK’s largest engineering groups has today (June 8th) announced its intention to takeover a German plastic specialist, with a view to expand operations.
Clyde Bowers, which is headed by Scottish tycoon Jim McColl, has committed £125m to takeover German firm Automatik Plastic Machinery (APM).
Once complete, APM will be merged into Clyde Blowers’ Swiss-based subsidiary Maag Pump Systems, where it will be re-branded as Maag Automatik.
Mr McColl said the merger would allow the group to extend its offering to manufacturers, from the pumping to the "pelletising" of plastics.
The engineering mogul told the Scotsman that in addition to the APM takeover, he is on the lookout for a third element to bring to the Maag Automatik group, with possible opportunities in the US and China.
Any additional mergers, he said, would support the company’s ambition to treble in size.
Clyde Blowers operates in seven core operational areas including clean energy technologies, oil and gas, mining and metals and hydraulics.
Typical Guttridge used by plastic manufacturers and those in the renewable energies sector includes; Conveyors – screw conveyors – chain conveyors – belt conveyors