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SUMEEKO to Acquire MMG and MMI Fastener
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2017-08-28
Taiwanese automotive maker SUMEEKO is planning to acquire MMG and the Italian MMI Fastener and complete this by the end of 2017. The acquisition, if successful, is expected to bring SUMEEKO's revenues to over USD 100 million and drive up profits for the next year.
MMG is a fastener distributor mainly for German automotive brands and its revenues this year have reached EUR 40 million. Acquiring MMG will expand SUMEEKO's business portfolio to fasteners used for wind power, water dams, agricultural machines, and smart phones.
MMG is a fastener distributor mainly for German automotive brands and its revenues this year have reached EUR 40 million. Acquiring MMG will expand SUMEEKO's business portfolio to fasteners used for wind power, water dams, agricultural machines, and smart phones.
