TITLE

Japan's Sumitomo agrees to buy Demag

AUTHOR(S)
Toloken, Steve; Vink, David
PUB. DATE
February 2008
SOURCE
Plastics News;2/11/2008, Vol. 19 Issue 49, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses the proposed acquisition of Demag Ergotech GmbH and Van Dorn Demag Corp. by Sumitomo Heavy Industries Ltd. to help Sumitomo expand its base beyond Asia. Sumitomo's decision to acquire Demag and Van Dorn is in anticipation of the expansion of its injection molding business in the U.S., Europe, Russia, India and Brazil markets. Sumitomo also mentioned that its interest in Demag was due to its strong presence in emerging markets like Eastern Europe and Russia.
ACCESSION #
30044887

 

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