Bunting acquires UK-based Master Magnets
Bunting acquires UK-based Master Magnets
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United States-based Bunting Magnetics Company has announced the signing of an agreement to acquire Master Magnets Ltd., a United Kingdom-based manufacturer of magnetic separation equipment.
Redditch, U.K.-based Master Magnets provides magnetic separation, recycling and metal detection equipment to several industries globally through a worldwide network of distributors. The acquisition is intended “to build on and complement Bunting Magnetics Co.’s global foundation already in place through broadened customer reach, new manufacturing capabilities and the opportunity to sell into new markets,” says the company.
“We’re thrilled to add Master Magnets Ltd. to our family of companies,” says Bob Bunting, president and CEO of Bunting Magnetics. “We value the long-standing success of Master Magnets Ltd. and are committed to sharing engineering and manufacturing strengths while providing their employees the resources they need to build on this success.”
Adds Bunting, “Master Magnets Ltd. perfectly complements Bunting Magnetics in terms of innovation, quality, products and providing magnetic solutions through individual components and complete systems. Joining forces decisively extends Bunting’s status as a leading global supplier of magnetic equipment and is a significant milestone in the company’s history.”
Simon Ayling, the managing director of U.K.-based Bunting Magnetics Europe, which will assume operations and management responsibility of Master Magnets, says, “Master Magnets Ltd. has deep customer relationships in new markets for us such as mining, quarrying and aggregate. We are especially excited to now be able offer a large line of ATEX approved electromagnets and mineral separation equipment. Together, we have nearly 100 years of experience in magnetic separation.”
Master Magnets Ltd. was founded in 1978 and currently has 26 employees. The company’s product line includes eddy current separators, permanent and electro magnets, crossbelt magnets, drum magnets and suspension magnets. It will continue to operate out of its Redditch, U.K. facility, according to Bunting.
“This acquisition is excellent news for the Master Magnets team, who are joining a company with international standing and a shared vision for growth,” says Adrian Coleman, general manager of Master Magnets Ltd. “We will continue to focus on ensuring our U.K. operations perform seamlessly for our customers who will also benefit from this new partnership. We’re excited for this new future that awaits Master Magnets as part of the Bunting family.”
Bunting Magnetics founded in 1959, provides metal detection, magnetic separation and material handling equipment as well as printing cylinders for several global markets, including the recycling, food packaging and processing, feed and grain, plastics, pharmaceuticals, chemicals, aggregate, mining, quarrying, offset printing, metal stamping, automobile manufacturing and other sectors.
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Source: Recycling Today
Bunting acquires UK-based Master Magnets
<![CDATA[United States-based Bunting Magnetics Company has announced the signing of an agreement to acquire Master Magnets Ltd., a United Kingdom-based manufacturer of magnetic separation equipment. Redditch, U.K.-based Master Magnets provides magnetic separation, recycling and metal detection equipment to several industries globally through a worldwide network of distributors. The acquisition is intended “to build on and complement Bunting Magnetics Co.’s global foundation already in place through broadened customer reach, new manufacturing capabilities and the opportunity to sell into new markets,” says the company. “We’re thrilled to add Master Magnets Ltd. to our family of companies,” says Bob Bunting, president and CEO of Bunting Magnetics. “We value the long-standing success of Master Magnets Ltd. and are committed to sharing engineering and manufacturing strengths while providing their employees the resources they need to build on this success.” Adds Bunting, “Master Magnets Ltd. perfectly complements Bunting Magnetics in terms of innovation, quality, products and providing magnetic solutions through individual components and complete systems. Joining forces decisively extends Bunting’s status as a leading global supplier of magnetic equipment and is a significant milestone in the company’s history.” Simon Ayling, the managing director of U.K.-based Bunting Magnetics Europe, which will assume operations…