LVD Company, Pullmax AB agree to merger of operations

February 17, 2011

LVD Company nv, Gullegem, Belgium, and Pullmax AB, Göteborg, Sweden, today announced they have entered into an agreement providing for the operational merger of the companies to combine sales, service, production, and research and development facilities.

The agreement will expand the product offerings and market reach of both companies and will create one of the industry's largest sheet metalworking equipment manufacturers with manufacturing facilities in Belgium, Central Europe, the U.S., and China, and provide representation in more than 50 countries worldwide, including 20 direct sales and service subsidiaries.

Under the agreement each company maintains its independent corporate identity but combines key operations in the areas of sales, service, production and engineering development.

Under the terms of the operational merger, LVD will manufacture Pullmax punching machines for the world market and collaborate with Pullmax on research and development efforts for future punching products and technology. Pullmax will represent the breadth of LVD laser cutting, punching, bending, and shearing equipment, as well as LVD software and mid-range automation products.

The complete range of Pullmax punching machines will be added to LVD's existing punch press product portfolio.

In Scandinavia and the UK, LVD and Pullmax sales and service operations will be merged at a country level to provide an integrated sales and service network for LVD and Pullmax customers alike. For all other markets, LVD will provide sales and service support via an extensive network of subsidiaries and agents.

Moving forward, LVD and Pullmax will combine design and engineering resources to address market requirements, jointly developing and introducing new sheet metal fabrication products.

Jean-Pierre Lefebvre, chairman of LVD, stated, "We are enthusiastic about combining forces with Pullmax to offer a broader umbrella of high-level punching products and more extensive automation solutions to our customers. The addition of Pullmax punch presses to our Strippit line of punching products further strengthens and positions the LVD brand."

Tomas Hellström Chairman of Pullmax added, "LVD's vast range of products, and in particular their expertise in forming, laser cutting technology and offline software technology, opens doors of opportunity for Pullmax to offer increased added value to our customers by having a more comprehensive set of solutions beyond our core punching and automation products."