Hillenbrand Completes Schenck Acquisition
New ´óÏó´«Ã½ will join forces with Coperion/Coperion K-Tron, Herbold and others in Hillenbrand’s Advanced Process Solutions group.
Hillenbrand Inc. has completed the acquisition of the Schenck Process Food and Performance Materials (FPM) ´óÏó´«Ã½ from Schenck Process Group. In plastics, Schenck is known for feeding and other material handling equipment. Purchase price was $730 million.
“The completion of the FPM acquisition further strengthens our leadership position across attractive, growing end markets of food, durable plastics, and chemicals. This acquisition represents another step forward in the execution of our strategy to grow as a pure-play industrial company,” says Kim Ryan, president and CEO of Hillenbrand.
Headquartered in Kansas City, Missouri, FPM has more than 1,300 employees globally and sells in more than 150 countries, with approximately 85% of revenues generated in North America. It will become a part of Hillenbrand’s Advanced Process Solutions group, joining familiar names such as Coperion/Coperion K-Tron, Herbold and Rotex, among others.
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