BMH Technologies acquires Chronos Richardson
August 01, 2000
by Emily Wilson
BMH Technologies GmbH
, a division of Babcock International Group, P.L.C., U.K.
, has acquired Chronos Holdings Ltd.,
including all companies in the Chronos Richardson Group around the world.
BMH Technologies, headquartered in Buxtehude, near Hamburg, specializes in materials processing technologies and engineered systems, and includes BMH Marine, which supplies ship unloaders, loaders and other grain storage and handling needs. BMH Marine is based in Bjuv, Sweden.
To reflect the change of ownership, Chronos Holdings' name will be changed to BMH Chronos Richardson, but will continue to operate from Hennef, Germany. BMH Chronos Richardson also has offices in the U.K., France, Italy and the United States and has a joint venture in India. The company, which had a turnover of £29.3 million (U.S.$43.8 million) in the year ended Dec. 31, 1999, said it would continue to focus its business on weighing, bagging and batching systems.
Gernot Schäfer, chief executive officer of BMH Technologies and an executive director of Babcock International, assumed the role of chairman of BMH Chronos Richardson. Existing Chronos Richardson personnel will retain their positions, including the company's regional customer team and engineering. Kurt Schroth will be responsible for BMH Chronos Rich-ardson's worldwide bagging systems, Mike Sanderson will manage the batching systems business segment and Karl Peach will remain as controller.
Mr. Sanderson said, "In joining BMH, I am absolutely certain that their knowledge and wide experience both in materials processing and businesses similar to ours will greatly improve the opportunities for the future growth of BMH Chronos Richardson. This change of ownership will benefit our customers, employees and new owners."
The Babcock International Group said the acquisition of Chronos Richardson complements the BMH cement and refined building materials businesses and extends BMH's services through the Chronos Richardson service operations network in Thailand and Malaysia.