M.J. Maillis Group announces the acquisition of Wulftec International Inc., the leading manufacturer of Stretch wrapping machines in Canada.
This recent North American acquisition will allow M.J. Maillis Group to expand its strong position in the packaging equipment market outside Europe. Wulftec is the stepping-stone into the dynamic North American market.
The President and CEO of the Group, Mr Michael Maillis, pointed that: “Wulftec’s management team will stay in place and I am convinced that through the excellence of its personnel and the quality of its products, Wulftec will contribute to strengthen the M.J. Maillis Group. This is the first decisive step towards globalisation of the Group”.
Wolfgang Geisinger, Wulftec’s founder and former President added: “I am delighted that the M.J. Maillis Group has acquired Wulftec. The entrepreneurial spirit I instilled in Wulftec will be able to flourish under the ownership of the M.J. Maillis Group. I have a lot of respect and admiration for what Michael Maillis and his team have accomplished over the years”.
The acquisition of Wulftec came as result of thorough evaluation of several opportunities in North America and was based on the following merits: significant profitability, strong market position and growth potential. Wulftec was also selected because it possesses a “state of the art” machine production facility and the most professional and system oriented distribution network.
Wulftec International develops, manufactures and distributes quality stretch wrapping machines for customers around the world. The company is located in Ayer’s Cliff, Quebec, just minutes for the Canadian-U.S. border and 75 miles from Montreal. Wulftec’s workforce includes 150 employees all located in 110,000 square feet owned facility.
Annual turnover of Wulftec is over Can $ 27,000,000 (€ 19,000,000). Most of these sales (86%) are directed to the U.S. market.
This acquisition was realised within the context of transferring the same successful concept, complete “end of line” technical solutions, in the North American market, the strongest market in the world.