Press Release
Sumitomo Electric Acquires Two Companies of European Powdered Metal Components Manufacturer Sinterwerke Group
May 22, 2019
Sumitomo Electric Industries, Ltd.
Sumitomo Electric Industries, Ltd. has acquired the European manufacturer of powdered metal components Sinterwerke Herne GmbH (SWH, North Rhine-Westphalia, Germany) and Sinterwerke Grenchen AG (SWG, Canton of Solothurn, Switzerland).
The Company acquired 100% of the shares of SWH and SWG from Sinterwerke Holding GmbH on May 9, 2019.
The Company's Powder Metal Products Division operates globally, with Sumitomo Electric Sintered Alloy Ltd. (headquarters: Takahashi City, Okayama Prefecture; President: Toshiyuki Kosuge) as its mother plant. The division provides a wide variety of products primarily for Japanese manufacturers of cars, automotive components and air conditioners. Taking advantage of these acquisitions, the Company will strive to expand its sales channels to cover European automakers and components manufacturers and increase the presence of its powder metal products business in Europe, aiming to obtain further global business opportunities.
Profile of SWH
| Name | Sinterwerke Herne GmbH |
|---|---|
| Established | 1971 |
| Capital | 6 million euros |
| Sales | 2018: 35 million euros |
| Location | North Rhine-Westphalia, Germany |
| Business | Manufacture and sales of powdered metal machine components |
| Employees | 240 |
Profile of SWG
| Name | Sinterwerke Grenchen AG |
|---|---|
| Established | 1948 |
| Capital | 7 million Swiss francs |
| Sales | 2018: 41 million Swiss francs |
| Location | Canton of Solothurn, Switzerland |
| Business | Manufacture and sales of powdered metal machine components |
| Employees | 160 |