EMAG sells EMAG eldec GmbH as part of a management buy-out (MBO)
EMAG eldec GmbH becomes eldec Induction GmbH. All jobs will be retained. The previous managing director Thomas Rank takes over the shares of eldec GmbH from the EMAG Group.
Global machine builder EMAG signed a purchase agreement with eldec induction GmbH under which the EMAG Group will sell all of its shares in EMAG eldec GmbH. Eldec produces and sells highly efficient induction heating technology for a wide range of industrial applications. In addition to generators for induction heating, the company offers toolmaking (inductors) and machine tools for induction hardening. At the EMAG Group, eldec products have been used in the design of production lines and the construction of machine tools.
Focus on core business
For the EMAG Group, the sale of the shares is another important step in the implementation of the EMAG 2025 corporate strategy, according to Managing Director Dr. Mathias Klein: "The aim of our corporate strategy is to further expand our technological leadership in the machining of rotationally symmetrical components. We want to achieve this primarily by using networked digital systems and with data analysis to present our customers with the best overall result." Commenting on the future of eldec, Dr. Klein explains, "As a result of the MBO, the transition to an independent company will take place smoothly, so there will be no restrictions for existing customers. We will continue to maintain a close business relationship with eldec, as many products, such as eldec's excellent generator technology, are also used in the systems employed.We wish Mr. Rank and the eldec company continued success and look forward to joint projects in the future."
The customers of eldec will be informed separately in a letter at short notice.