On Tuesday, September 10^th, Magnet-Schultz GmbH & Co KG (MSM) signed the full acquisition ("share deal") of Electroprecizia Electrical Equipment SRL (EPEE). The transaction is still subject to conditions ("conditions precedent"), so that the transfer will be completed by March 31^st, 2025 at the latest and the company will then operate under the name "Magnet-Schultz Romania SRL" (MSR). The acquired company is a specialist in plastic injection moulding technology and electromechanical assembly and currently employs a good 100 people in Sacele near Brasov ("Kronstadt") in Transylvania/Romania. On one hand, the transaction secures the technological development of the company according to Magnet-Schultz standards, which is important to the previous owner and entrepreneur Adrian Secelean in the interests of his employees. On the other hand, the global competitiveness of the Magnet-Schultz Group for demanding activities with a high proportion of manual labour will be strengthened.

The newly acquired business site offers a modern machine park on a good 2,000 square metres of floor space with the possibility of expanding by a neighbouring 2,000 square metres. The high level of qualification, combined with significantly lower personnel costs and an economical energy supply at the site, allows the preservation of industrial added value in Europe, which can no longer be realised in Germany in a cost-covering manner. In addition, there are modern educational facilities modelled on the dual German vocational training system, a university and modern transport connections and infrastructure, as well as a certain knowledge of German and cultural interest, thanks to the numerous German-speaking companies already represented in the region and a long shared history.

After careful consideration, the Magnet-Schultz Group and family have decided to take this step in order to be able to continue to offer the existing product portfolio for various capital goods industries and to ensure global competitiveness even in mobile applications without the possibility of full automation from European production. Dr Albert Schultz is delighted about the addition to the Magnet-Schultz family and looks forward to continuing to work with Adrian Secelean and his Electroprecisia Holding at the site with the words: "We come to stay and grow!"

Dr. Albert Schultz CEO Magnet-Schultz & Adrian Secelean President Electroprecizia Holding