May 31, 2017 - International technology Group Andritz has signed a contract for acquisition of Paperchine Inc., owned by AstenJohnson Holdings Ltd., headquartered in Charleston, S.C.
May 31, 2017 By P&PC Staff
The purchase is subject to approval by the antitrust authorities and is expected to be closed by the end of June.
A global supplier of highly engineered equipment and services to paper manufacturers, Paperchine and its subsidiaries employ a workforce of approximately 180. It operates a manufacturing facility in Vancouver, B.C., along with several others in the United States, Germany and Thailand.
Operating more than 250 sites around the world, Andritz is a supplier of plants, equipment, and services for hydropower stations, the pulp and paper industry, the metalworking and steel industries, and for solid/liquid separation in the municipal and industrial sectors as well as for animal feed and biomass pelleting. The company says the acquisition will strengthen its presence in North America and add new products, such as the horizontal GapFormer, SigmaPro headbox, dewatering elements (former Johnson Foils), moisturizer (former VIB), and related service to its offerings for international clients.
“We are very excited about this complementary acquisition that extends the Andritz product range for paper and board machines,” said Michael Pichler, SVP Andritz Global Pulp Drying and Paper Division manager.
AstenJohnson CEO Kevin Frank added, “The sale of Paperchine fits with our strategy to focus on growth in technical textiles, including paper machine clothing, advanced fabric, and nonwovens. Our friends and associates at Paperchine have successfully positioned the company as a leading global brand. They will have the opportunity to continue to grow with the support of Andritz, while building on the strong foundation they have established as a part of the AstenJohnson family.”
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