Toolmaking
Schuler takes over Aweba
Schuler AG, based in Göppingen and specializing in forming technology, is acquiring 100% of the Saxon company Aweba - a full-range supplier in the toolmaking and fixture sector - subject to the approval of the antitrust authorities.
Aweba was founded in 1882 as "Bernhard Hiltmann Spezialfabrik für Schnitt und Stanzwerkzeug". Today, the company supplies international customers from the automotive supply and electrical industries as well as mechanical and plant engineering. The product range extends from forming, cutting and hydroforming tools to die casting molds and fixtures through to comprehensive services. In the past financial year 2015, the Aweba Group generated sales revenue of around EUR 60 million. The previous owners of the Saxon company are private and institutional investors. The parties have agreed not to disclose details of the purchase agreement.
Schuler CEO Stefan Klebert commented: "We are delighted to add Aweba to our Group, a successfully managed company that is an excellent fit for Schuler thanks to its high level of research and development expertise and its excellent engineering know-how." The takeover of Aweba is Schuler's second major acquisition in the past twelve months. Last year, the company acquired a majority stake in Chinese press manufacturer Yadon with annual sales of around 110 million euros.
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