Lely Group & Vermeer Corporation Finalize Welger Acquisition
| Jun 30, 2008 | |
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Vermeer Corporation and the Dutch-based Lely Group have jointly acquired German agricultural baler and bale-wrapper manufacturer Welger Maschinenfabrik GmbH. The announcement follows in-depth due diligence earlier this year by the Vermeer acquisition team. According to Vermeer Co-CEO and Chairman of the Board Robert Vermeer, the new Vermeer-Lely alliance creates “huge benefits” for all three high-profile brands (Vermeer, Lely, Welger), including a much larger global presence in grassland machinery and baling equipment for the two controlling companies. The Welger product line consists of high-quality hay baling and bale-wrapping equipment. The German plant currently employs 375 people. Latest reported sales revenues were approximately 67-million EURO. Majority ownership in Welger Maschinenfabriek GmbH was previously held by Andlinger, a private investment partnership. Lely and Vermeer already have a very strong working relationship; in fact we’ve been collaborating for nearly two decades,” said Vermeer Co-CEO and Chairman of the Board Robert Vermeer. “This new alliance combines the strengths of three premier brands, plus the resources and expertise of three highly skilled and motivated R&D departments and manufacturing enterprises. As we look to the future, the potential gain in new product development and manufacturing efficiencies is enormous, and the benefits to forage producers should be tremendous,” Vermeer added. Vermeer, based in Pella, IA (USA), owns original patents on several types of agricultural, environmental and underground construction equipment. The company is most notably credited with the invention of the Big Round Baler in 1971. More recently, the company has evolved into a large global marketer, operating several divisions, with multiple distribution channels. The Vermeer Forage Products Group specializes in hay equipment including large round balers, mowers, mower conditioners, rakes, bale processors, silage wrappers, bale movers and hay handling equipment. The company is active in 54 countries worldwide and employs more than 2100 people. Lely (based in The Netherlands) has provided modular cutterbars for Vermeer mowers and mower conditioners since 1989. In 2003, the two companies also formed a strategic alliance that allows Vermeer to market and service Lely hay & forage equipment in the USA under the Vermeer brand. Lely is best known as the world market leader in robotic milking systems, led by the Astronaut. |
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