NEWS & EVENTS | MAT Foundry Group Ltd. acquires majority stake of SCHMIDT MACHINENBAU GMBH

MAT Foundry Group Ltd. acquires majority stake of SCHMIDT MACHINENBAU GMBH

May 31, 2016 - Long Grove, IL: MAT Foundry Group Ltd., headquartered in Poole, UK, is pleased to announce that it has acquired the majority stake of Schmidt Maschinenbau GmbH, located at Westhausen, Germany. The acquisition further expands the group's investment volume into the European Automotive Market.

Schmidt Maschinenbau GmbH is a world leading manufacturer and developer of complex machine-products for leading international car-manufacturers (OEMs). The company specializes in high-tech transmission systems and components.

MAT's majority stake in Schmidt Maschinebau GmbH consists of the plants in Westhausen, located in the state of BadenWurttemberg, and Eberswalde, located at the state of Brandenburg, as well as a production plant in Auburn, Alabama US, which will start production in June 2016.

Mr. Herbert Schmidt, the founder of Schmidt Maschinenbau GmbH in 1985, will continue to lead the company as Managing Director. On behalf of the MAT Foundry Group Europe, Mr. Lars Steinheider will assume the position of Co-Managing Director.

"This is a fantastic acquisition for our group" said Mr. Thomas Krosnar, President of MAT Foundry Group, "we are very pleased to work together with Mr Schmidt to continue to grow the company into a Global supplier of very complex automotive transmission parts."

MAT Foundry Group is a World leading supplier of cast and machined components for passenger cars, commercial vehicles and industrial applications. The company employs over 2,000 people across 8 countries and 15 manufacturing locations.

About MAT Foundry Group Ltd
MAT Foundry Group, a member of MAT Holdings Inc., maintains foundries in 7 countries worldwide, 402 M US Dollars revenue, 350.000 tons of iron produced (grey and ductile), and 1.750 dedicated employees working to supply products for 30 OEM's and 10 Tier 1, MAT Foundry Group is a leading global manufacturer of automotive braking components. Having a long history in the OE European braking market, the group has leveraged years of expertise, technology, and 15 state of the art manufacturing facilities worldwide, 7 sales offices and 3 European technology centres, MAT Foundry Group responds to market by producing the highest quality components in all its products lines. The list of MAT Foundry Group includes MAT Foundries Europe, MAT Machining Europe, PTR, Eurac, MAT Dalian Auto Parts, Dania and Mincer HD.

About MAT Holdings Inc.
MAT Holdings, Inc. is a privately held company, founded in 1984, that has quickly grown as a respected global manufacturer, distributor and marketer of products in the automotive, fencing, hardware, and power equipment sectors, with approximately $1.4B in annual revenue. Headquartered in Long Grove, Illinois it has operations on three continents, including 2.1 million square feet of U.S. distribution and manufacturing space, and provides its customers with a full range of services including U.S. and overseas engineering, quality assurance, logistical and distribution support, strategic warehousing, sourcing, product development and marketing. For more information regarding MAT Holdings, Inc. and its family of companies click here.

MAT Holdings Contact
Bob Craig
(847) 383-8595