Normet has agreed to acquire the assets of the MEYCO dry spraying business from Atlas Copco, consisting of the Piccola and GM models. Normet will have the right to use the MEYCO brand name for the Piccola and GM models for 2 years from the transfer date.
The dry spraying business has been the foundation of MEYCO for over 50 years. Atlas Copco acquired the MEYCO Equipment business from BASF Construction Chemicals Europe AG in 2013.
“This acquisition is a good strategic fit for Normet as it broadens the offering for our existing customers in mining and tunnelling,” said Tom Melbye President of Normet Group and Managing Director of Normet International Ltd. “It also complements our offering of new technologies in Construction Chemicals, especially with respect to the application of the Tamseal 800 waterproofing sprayable membrane.”
The acquired business will form Normet’s MEYCO Dry Spraying product line, which will be headed up by Tom Kurth, former Managing Director of MEYCO Equipment and Business Development Manager for Atlas Copco MEYCO AG. The manufacturing of the dry spraying products will continue in Switzerland to maintain their high quality. Sales and service of MEYCO dry spraying products will be handled via established distributors as well as through Normet’s own worldwide network. The distribution of spare parts will be managed through Normet’s Global Logistics Center in The Netherlands.
The parties have agreed not to disclose the purchase price.