CMI sells its German maintenance subsidiary
October 28th, 2011
On August 31st, 2011, Belgian CMI Group sold its German maintenance subsidiary CMI M+W Maintenance GmbH to the company Vowido GmbH. M&W GmbH, which is the new name of CMI M+W Maintenance, will continue to evolve in familiar territory as the purchaser is none other than a former staff member. CMI M+W Engineering GmbH, specializing in the design of special equipment for the steel industry, remains with CMI Group.
Bernard Serin, Chairman and Managing Director of the CMI Group, is satisfied with this operation: “Within CMI Group, the company has known recurrent difficulties for several years. Intended to be the repair center for a service activity in the Ruhr area, CMI M+W Maintenance remained primarily a manufacturing center of new parts, a non-strategic activity for CMI Group. The transaction has resulted in a favorable outcome not only for CMI Group, but also for the buyer, and for the staff of M&W. I am convinced that its attachment to a German operator, already well-established in the economic fabric of the Ruhr basin, will allow it to find the opportunities and the volume of business it deserves. I commend the volunteerism the staff has shown in recent years and wishes them good luck under their new colors.”
Note that CMI M+W Engineering GmbH, a company specializing in the design of special equipment for the steel industry, remains with CMI Group, within CMI Industry (and with CMI Rolling Mills in particular).