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| Two of Europe’s small equipment icons to merge  Wacker Construction Equipment AG, a Munich-based manufacturer of drills and rolling machines, agreed to buy Neuson Kramer Baumaschinen AG, Linz, Austria. The merger is expected to close in October 2007. The merger will create a major global manufacturer of light and compact equipment with over 160 sales and service stations. Neuson Kramer Baumaschinen AG main shareholders (accounting for a 89.63% holding) will transfer their shares to Wacker Construction Equipment AG in exchange for 16,7 million new shares and 4,3 million treasury shares in Wacker Construction Equipment AG. The remaining shareholders will transfer their shares to Wacker Construction Equipment AG in exchange for 2, 4 million new shares.A resolution to change the legal form of the company to a European stock corporation and to rename the company Wacker Neuson SE will be proposed at the next Wacker Construction Equipment AG Annual General Meeting at the beginning of June 2008. write your comments about the article :: © 2007 Construction News :: home page |