Due to be completed by the end of May, the deal significantly strengthens the Beckum, Germany-headquartered Beumer Group's market position in the large equipment sector.
FAM is one of the world's leading full-range suppliers of bulk materials handling and processing plants. FAM successfully plans, designs, and manufactures turnkey plants and systems for mining, conveying, loading, and storing minerals, raw materials, and goods.
The FAM Group employs approximately 750 people at its headquarters and subsidiaries in Brazil, Chile, China, Canada and India, and representatives worldwide.
With more than 4,500 employees in over 70 countries, the Beumer Group is long established in the bulk materials technology market.
Industry experts regard FAM's leading technology for transporting and processing minerals as a useful addition to the Beumer Group portfolio. In addition to planning and engineering, FAM provides the entire value chain, including after-sales service. As a global solution provider, FAM has combined expertise, engineering and project management for over 100 years.
Dr. Christoph Beumer, managing partner and CEO of the BEUMER Group, said that the FAM acquisition underpins Beumer's long-term plans in the extraction, processing and handling of raw materials sector. He said the Group's motto is "long-term success and not short-term profit".
Dr. Beumer emphasised that his Group had done its "homework" in recent years and is now consistently investing in its portfolio's "qualitative expansion".
FAM managing director Torsten Gerlach said: "The management is pleased to have found with the Beumer Group, a strategic investor. We see great potential for sustainable growth in orders and sales. In this context, the acquisition makes much sense."