European material handling leader acquires Ontario robotics firm
Finland-based Cimcorp Oy, a supplier of automated material handling and picking solutions, has acquired RMT Robotics, a Grimsby, Ont.-based manufacturer and integrator of robotic material handling systems.
The newly formed group offers case picking and advanced order fulfillment solutions, robotic gantry technology and related software and controls, as well as a line of fully autonomous, mobile AGVs.
"The merger will better serve our customers around the world in the tire industry, as well as in the warehousing, distribution, food and beverage markets, which are the focus areas of the combined group’s business activities," said Markku Vesa, managing director and president, Cimcorp. "Both Cimcorp and RMT Robotics remain dedicated to providing best-of-breed integrated solutions, and will continue to support current product lines, warranties and service contracts."
"We are delighted with this agreement, which offers our customers significant international presence and provides excellent competitive tools for sustainable long-term growth," said Doug Pickard, founder and president of RMT Robotics. "The joint entity expands our resource pool of engineering talent, increases our solutions offering and extends our market reach in Europe, Asia, and North and South America."
RMT Robotics will continue trading under its current name as a subsidiary of Cimcorp Oy, retaining existing management and staff. Pickard, who has acquired a 20-percent interest in Cimcorp Oy, will continue to serve as president of RMT Robotics, and joins Cimcorp’s board of directors.
The estimated pro forma revenue of the group for this year is approximately $70 million, from the closing date. The combined total number of employees is more than 200, with the majority working in design, development and systems, as well as project engineering. The Canadian personnel represent 25 percent of the total figure.