SMS Announces Sale of BGE

Published: November 14, 2007, By pffc-online.com

PRESS RELEASE

In a deal officially announced at K, SMS has sold off the last vestige of its plastics unit, Battenfeld Gloucester Engineering (BGE) to a group of senior managers plus two private investors who counted BGE as a longstanding customer from their previous venture. John Sharood, chairman of what now will be called Gloucester Engineering, and Dick Murphy, vice chairman, joined with eight senior managers, including Carl Johnson, president and CEO of BGE, to purchase the maker of blown- and cast-film and converting technology from German metals-processing equipment manufacturing SMS, Düsseldorf, Germany. SMS already had divested pipe/profile/sheet extruder manufactuer Battenfeld Extrusionstechnik to Swedish investment business Triton, Stockholm, Sweden, and Battenfeld Injection Molding to German investor Adcuram, Münich, Germany. See bge.battenfeld.com.