Austria-based equipment and technology company Andritz has signed an agreement to acquire ASKO Inc., Homestead, Pennsylvania. The deal includes ASKO’s wholly owned Dutch subsidiaries ASKO Emera V and ASKO BV.
Andritz supplies plants and equipment for the metalworking and steel industries, hydropower stations, the pulp and paper industry and for solid and liquid separation in the municipal and industrial sectors. ASKO is a manufacturer of knives and wear parts used in the metals industry, including in metals recycling baling and shearing applications.
The deal is expected to be complete by the third quarter of this year.
“The combination of ASKO’s broad line of industrial knives and wear parts, and Andritz’s global position and engineering leadership, reinforces the partners’ strategies to provide advanced technology services and maintenance products to the global metals industry,” says Bill Rackoff, president of ASKO. “Both companies’ business strategies are based on delivering technical solutions that enhance customer value. The result of coordinating with Andritz’s global resources and talented metals team creates expanded opportunities for ASKO’s customers and associates.”
Heinz Autischer, Andritz Metals Global business area manager, comments, “With ASKO, we acquire a highly reputable company [that] will be very complementary and broaden our service offerings globally.”