Emerson agrees takeover of Lucerne-based Afag Holding
22 August 2023 10:16
Based in St.Louis in the US State of Missouri, the technology and software firm Emerson has agreed a takeover of Afag Holding AG, further details of which can be found in a press release. The specialist for feeding and handling technology, which is based in Zell in the canton of Lucerne, will be integrated in the Discrete Automation division at Emerson. No further details of the transaction were disclosed, although the deal is scheduled to be finalized by the end of financial year 2023.
The acquisition is set to combine the electric linear module solutions from Afag with Emerson’s pneumatic motion technology. Afag serves customers in growing markets such as battery manufacturing, as well as the automotive, packaging, medical, life sciences and electronics sectors. The linear electric module segment is expected to add approximately 9 billion US dollars to the market in which Emerson operates.
“Afag brings exciting technology that will enable Emerson to accelerate growth in our existing 900 million US dollar factory automation business”, comments Ram Krishnan, Emerson COO, in the press release. “As discrete and hybrid customers continue to accelerate electrification across their manufacturing processes, Afag’s technology is ideally suited to provide improved energy efficiency and performance gains”, he adds. Adrian Fuchser, CEO of Afag, expressed his excitement at joining Emerson to “build on its existing factory automation leadership, while further expanding our global reach”. ce/ww