October 11, 2008

Siemens complete acquisition of Morgan Construction

Siemens announced that now it has taken over Morgan Construction Co the rolling mill specialist based in Worcester at USA. This company achieved sales of USD 230 million in 2007 and employs some 1,100 people in the USA, China, India, the UK and Brazil.

Morgan Construction will be managed as a Siemens Group Company by Siemens VAI Metals Technologies at Linz in Austria, a business unit in the Industry Solutions Division.

Morgan Construction is a worldwide supplier of wire mill equipment for the long product sector, and has constructed over 500 wire, bar and billet mills in more than 40 countries.

Dr Richard Pfeiffer CEO of Siemens VAI Metals Technologies said that “Combining Morgan's products and know how with Siemens' automation competence now enables us to present one face to the customer when offering complete solutions for equipping wire mills and for manufacturing long products. The integration of these two companies will enable us to set the market standards for future technological development. This takeover of Morgan's production plants will also enhance Siemens VAI's own value chain in the U.S., Indian and Chinese markets.”

Dr. Pfeiffer emphasized that “The engineering and service capacities we are gaining from Morgan will also further strengthen the support we can offer our customers in these countries, from modernizing and upgrading plants to spare-part management and retrofitting.”