Merger: Heimbach and AstenJohnson
Heimbach and AstenJohnson are planning to merge their Paper Machine Clothing (PMC) and Advanced Fabric business. The Heimbach Technical Textiles business (TTX) will not be part of the transaction.
The partnership oft he two companies began almost 40 years ago and will culminate in an amalgamation of two exceptional companies with many similarities. Both companies are supported by family shareholders and operate internally with a family-oriented culture. The roots of the companies date back to the late 1800’s and early 1900’s. Through this time, many generations of employees have kept the companies in a position of market strength.
According to Heimbach, the merger brings many benefits for employees and customers alike: A PMC company that, together, has significant market share in Forming, Pressing and Drying on all continents. Together, Heimbach and AstenJohnson will be #1 or #2 in all major pulp and paper-making regions. The merged companies are truly a global PMC company, even more committed to paper than ever before. Complimentary in technology and products might also lead to improved customer support.
AstenJohnson is headquartered in Charleston, SC in the United States. They have 2,100 employees located across three continents. Outside of North America, AstenJohnson’s locations include Eupen, Belgium; Strakonice, Czech Republic; Suzhou, China; and Singapore.
Peter Michels, Managing Director of Heimbach GmbH, stated: “Together with AstenJohnson, Heimbach has an even more solid foundation for the future. We have put ourselves in a better position to grow and compete for decades! We believe this is the start of an exciting journey.”
Over the next weeks/months, the companies must complete due diligence and gain regulatory approval. It is expected that this transaction will be finalized in the second half of 2019.