LVD Company, Pullmax enter agreement for their merger
Aug 1, 2011 12:00 PM
LVD Company nv, Gullegem, Belgium; and Pullmax AB, Göteborg, Sweden, have entered into an agreement providing for the merger of the companies to combine sales, service, production, and research and development facilities.
The agreement will expand the product offerings and market reach of both companies and will create one of the industry's largest sheet metalworking equipment manufacturers with manufacturing facilities in Belgium, central Europe, the United States, and China, providing representation in more than 50 countries worldwide including 20 direct sales and service subsidiaries.
Under the agreement, each company will maintain its independent corporate identity but will combine key operations in sales, service, production, and engineering development.
LVD will manufacture Pullmax punching machines for the world market and will collaborate with Pullmax on research and development efforts for future punching products and technology. Pullmax will represent the breadth of LVD laser cutting, punching, bending, and shearing equipment, as well as LVD software and mid-range automation products.
The complete range of Pullmax punching machines will be added to LVD's existing punch press product portfolio.
In Scandinavia and the United Kingdom, LVD and Pullmax sales and service operations will be merged at a country level to provide an integrated sales and service network for LVD and Pullmax customers alike. For all other markets, LVD will provide sales and service support via a network of subsidiaries and agents.
Moving forward, LVD and Pullmax will combine design and engineering resources to address market requirements, jointly developing and introducing new sheet metal fabrication products.
