Durr Now an International Service Provider
29 April 1999
Durr Now an International Service Provider With the Acquisition of Premier Manufacturing Support ServicesPLYMOUTH, Mich., April 29 -- Durr AG, world market leader in paint finishing systems for the automotive industry, announces the acquisition of Premier Manufacturing Support Services, Cincinnati, Ohio/USA by its subsidiary Durr Inc. Premier is a major provider of paintshop cleaning and manufacturing support services including maintenance and other specialized services to the global automotive industry. Premier maintains ongoing operations in 10 countries with worldwide sales of approximately $100 million (U.S.) annually. Durr sees the expansion into the services business as an important factor in strengthening its market position worldwide, as well as continuing the company's trend in earnings growth. With this acquisition, Durr is positioned to take responsibility for a wide range of production systems and support services virtually anywhere in the world. Durr estimates the annual market potential for support services of approximately $1.4 billion (U.S.) worldwide, with a growth rate in excess of 20% annually. Premier is a strategic addition to Durr's core business. Premier can now capture the growth in this market by leveraging its existing position with the automotive manufacturers. Ongoing support services provide Durr a better balance to the capital investment cycles of the automotive industry. "The acquisition of Premier allows us to move rapidly into a growing market segment with a specialized and successful business unit," says Hans Dieter Potsch, Chairman of the Board of Durr AG. "On this basis we can offer the international auto makers a custom-made service package." The Durr Group is now represented by companies in North America situated in eight locations. They are Durr Industries, Inc., Behr Systems, Inc., Durr Environmental, Inc., Reeco, Inc., Acco Systems, Inc., Durr Automation, Inc., Henry Filters, Inc., and Premier Manufacturing Support Services. Durr in the U.S. is a world leader in automotive paint technology and designs, engineers, manufactures and markets advanced paint finishing, paint automation, environmental controls, industrial cleaning, automation and conveyor and material handling systems, and manufacturing support services. The Durr Group is made up of more than 20 worldwide entities and has an annual turnover of approximately $1.2 billion.