Meyer Burger Technology has continued on its acquisition of ailing companies with its 100% takeover of automation company AMB Apparate + Maschinenbau, following its recent acquisition of Diamond Wire Technology in September. Originally intended as purchase of a 51% majority stake of AMB’s share capital, Meyer Burger proceeded to exercise its call option to procure the remaining 49% of the share capital.
The cost of the takeover, which was completed on November 20th, was not disclosed as both parties involved have agreed not to publicise the details.