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€12 Million International Business Acquisition
July 6,
2016 3308 3308 
QGM Quangong Machinery acquires Zenith Formen Produktions GmbH, Freistritz,Austria
At bauma 2016, the QGM Quangong Machinery Co., Ltd. group of companies (Quanzhou City,China) has come to an agreement with Michael Leier KG (Horitschon, Austria) to take over Zenith Formen Produktions GmbH, a company belonging to Michael Leier KG.
The QGM group of companies, which had in 2014 already taken over Zenith Maschinenfabrik GmbH in Neunkirchen, is acquiring Zenith Formen Produktions GmbH in Freistritz, Austria, for a purchase price of approximately € 12 million. QGM is taking over all the employees, buildings and land of Zenith Formen Produktions GmbH.
The QGM Group, together with Zenith Maschinenfabrik GmbH, is an internationally well known manufacturer of high-class systems and machines for the concrete industry. Zenith Formen Produktions GmbH is a perfect match for the QGM Group portfolio; it enlarges its product range and turns the QGM Group more and more into a full range supplier.