Schenck Process Announces Acquisition of Stock Equipment Company
Darmstadt, Germany, 1st of June 2006. Schenck Process announces agreement on the acquisition of Stock Equipment Company (“Stock”). This acquisition further strengthens the position of Schenck Process as the leading global supplier of weighing, feeding, screening and automation solutions throughout the process industries.
Stock together with its Redler and Solvera products is the global leader in the design, manufacture and sale of highly engineered bulk material handling systems and electronic controls for coal-fired power plants and other process industries.
Founded in 1929, Stock has the most extensive bulk material handling product offering in the industry with their portfolio including feeding systems, chain conveyors, speciality valves, electronic controls and other accessory products. Headquartered in Chagrin Falls, Ohio, USA with operations in China, India, Japan and the United Kingdom, Stock is well positioned to serve both its international customer base and growing markets. Employing around 270 people worldwide, in 2005, Stock created revenues of approximately €50 million.
Dr. Jochen Weyrauch, President of Schenck Process, said “Following the recent MBO of Schenck Process from Carl Schenck AG, the acquisition of Stock confirms our strategy to grow Schenck Process with greater focus and efficiency. Amongst other benefits, the acquisition of Stock facilitates this growth by assisting us to strengthen our position in servicing the highly attractive coal-fir