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M+W Americas Acquires 100 Percent of NSTAR Global Services
Apr 21, 2010 (05:04 PM EDT)
ALBANY, N.Y. and RALEIGH, N.C., April 21 /PRNewswire/ -- The global engineering and construction company M+W Group (formerly M+W Zander) strengthens its position in the high tech services business. Today the company announced that its subsidiary, M+W Americas, Inc. purchased 100 percent of NSTAR Global Services. The purchase price was not disclosed.
NSTAR (www.nstarglobalservices.com), based in Clayton, North Carolina, joins M+W US, Inc, Total Facilities Solutions, and Global Automation Partners under the holding company of M+W Americas, Inc. The company specializes in providing technically proficient contract service resources to the semiconductor and high tech industries. With employees located at client sites throughout the United States, NSTAR has grown year-over-year since its founding in 2001. The company has made the Inc. 500/5000 list of fastest growing companies in each of the past three years – highlighted by a ranking of #163 on the US Inc. 500 list in 2007 and #1 in the Raleigh, North Carolina area in 2009.
At the closing, Rick Whitney, President of M+W Americas, Inc. stated, "NSTAR provides the M+W Group with an important cornerstone to our strategy of providing full life-cycle service and support to our clients. Participation in the service segment of the business will incorporate value driven sustaining support into the factories we design and build."
In the joint press release, Randy Nelson, President of NSTAR added: "Joining the M+W Group will allow NSTAR to provide our customer base what they have been asking for - a truly global solution. M+W Group operates from a well respected global platform that will enable us to proliferate our Third Partner™ Service offering for the semiconductor industry. It will also provide the opportunity to expand into other high tech and regulated industry sectors. The combined core competencies of M+W Group, TFS and NSTAR will provide a full service solution for our global customers."
About M+W Group (www.mwgroup.net): M+W Group (formerly M+W Zander) offers its customers worldwide integrated life-cycle solutions for high-tech production plants and infrastructure complexes including all necessary service and modernization support. The customer base focuses primarily on leading electronics, photovoltaic, pharmaceutical, chemical, automobile and communication companies, as well as research institutes and universities. The company ranks among the market leaders in various market sectors, for example semiconductors, photovoltaics and pharmaceuticals. M+W Group GmbH, Stuttgart, manages the global activities of the group as a holding company. The group has three main divisions of Facility Solutions, Process Solutions and Product Solutions and generated revenues of some 1.74 billion euros in the business year 2008 with a workforce of approximately 4,500.
M+W Group is owned by the Austrian Stumpf Group that is globally successful in the areas of High-Tech Engineering, Smart & Renewable Energy, Real Estate and Technology Investments.
SOURCE NSTAR Global Services