MAE Acquires Eitel Presses Inc.; Forms U.S. Subsidiary

(PresseBox) MAE, Erkrath, Germany, the world market leader in automatic straightening machines and wheel set presses, has acquired Eitel Presses Inc. of Orwigsburg, Pennsylvania and has formed a new U.S. subsidiary named MAE-Eitel Inc.

Eitel Presses Inc. was the North American market leader since 1973 with over 2,000 machines installed and sales of USD 14 million in 2013 in the automotive, aerospace, energy, agricultural and construction industries. Building on this success current management remains unchanged with Norman Walker as President. Founder and former President, Ronald Schildge, will be active in an advisory role.

MAE-Eitel Inc. with engineering, manufacturing, sales and service will operate out of the existing U.S. facility relying on the experience of its 60 employees. Additional product offerings now include wheel set presses for the rail industry, and high capacity (up to 4,000 tons) straightening presses for the steel industry.

This acquisition is an important strategic step strengthening the company's presence in North America and goal of supporting current and future customers.

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