PRECIA MOLEN announces the Acquisition of 100% of the Lithuanian company MILVITEKA

PRECIA MOLEN announces the Acquisition of 100% of the Lithuanian company MILVITEKA

PRECIA MOLEN (France, Lithuania) - PRECIA MOLEN widens its product and service range and reinforces its presence on Russia’s doorstep.

PRECIA MOLEN, located in the Ardèche region (France), specialized in the design, manufacturing and sale of weighing instruments announces the acquisition of 100% of the Lithuanian company MILVITEKA.

MILVITEKA was created in 1995 and is specialized in the design and manufacturing of bulk material handling solutions including various types of conveyors (Chain, belt and screw conveyors), bucket elevators, hoppers , big bag filling systems and bagging machines.

MILVITEKA employs 64 people in its Gargždai site (close to the fast growing Baltic sea port of Klaipeda) with a turnover of circa 5 Million Euros and is leading Lithuanian market in manufacturing and installation of bulk handling solutions. The CEO of the company who was one of the shareholders before the acquisition will keep his position. MILVITEKA accounts will be consolidated from January 1st 2020.

Thanks to this acquisition PRECIA MOLEN is integrating complementary products together with an expertise in the supply of complete installations in the grain industry with terminals of the Baltic and Black seas and in other areas like the fertilizer, energy and environment sectors.

The proximity of Russia, Scandinavia and Eastern European countries offers promising opportunities to PRECIA MOLEN with the acquisition of this performing and competitive manufacturing facility.

This operation constitutes a major acquisition for PRECIA MOLEN in line with the development of its international presence.

The integration of MILVITEKA with PRECIA MOLEN will allow the Group to reach a turnover greater than 140 Million Euros in 2020 with an export share approaching 50%.

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