Sievert, the Osnabrück, Germany-based construction materials group, has acquired Ulm-based Schwenk Putztechnik from
Schwenk Putztechnik has 360 staff and generates annual sales of around €100 million.
It produces plaster and mortar products and thermal insulation composite systems.
Schwenk Putztechnik will be integrated into Sievert's Quick-Mix unit and will continue operations under the name of Quick-Mix Putztechnik.
The Schwenk Putztechnik brand will be kept. Thanks to the acquisition, Sievert Group's annual sales will rise to more than €400 million, and the acquisition helps Sievert expand its presence in southern Germany.
