Austria-based Andritz Group reports it has acquired a 70-percent stake in Diatec S.r.l., Italy. The remaining 30 percent will remain in the hands of the two current shareholding families. Diatec produces a range of converting machinery for diapers and absorbent hygiene products as well as food packaging. Andritz reports that acquisition complements its nonwovens portfolio and allows the company to offer equipment along the supply chain from raw material to webforming, finishing and converting.
In related company news, Andritz AG is set to acquire Youngsville, N.C.-based Xerium Technologies Inc. — a producer of machine clothing and roll covers — for $13.50 per share in an all-cash transaction, which is expected to close during the second half of 2018. Completion of the transaction is subject to approval by Xerium’s stockholders, regulatory approval and other customary closing conditions.