International technology Group Andritz acquires Paperchine Inc in the US. Currently, Paperchine is owned by AstenJohnson Holdings Ltd., headquartered in Charleston, South Caroline. The purchase is subject to approval by the antitrust authorities and is expected to be closed by the end of June 2017.
Paperchine is a global supplier of highly engineered equipment and services to the paper industry’s leading manufacturers. The company and its subsidiaries have approximately 180 employees in total and manufacturing facilities in the USA (Rockton, IL, Springfield, MA, and Tucker, GA), Canada (Vancouver), Thailand (Bangkok), and Germany (Maintal).
For Andritz, the acquisition of Paperchine is expected to strengthen its presence in North America and to add new products, such as the horizontal GapFormer, SigmaPro headbox, dewatering elements (former Johnson Foils), moisturizer (former VIB), and related service to its offerings for international clients.
Michael Pichler, SVP ANDRITZ Global Pulp Drying and Paper Division Manager, commented:
“We are very excited about this complementary acquisition that extends the Andritz product range for paper and board machines. The sale of Paperchine fits with our strategy to focus on growth in technical textiles, including paper machine clothing, advanced fabric, and nonwovens. Our friends and associates at Paperchine have successfully positioned the company as a leading global brand. They will have the opportunity to continue to grow with the support of Andritz, while building on the strong foundation they have established as a part of the AstenJohnson family.”