Groeneveld Groep B.V. in Gorinchem, the Netherlands, and Eugen Woerner GmbH & Co KG from Wertheim, Germany, have signed a letter of Intent to establish a strategic alliance. The objective of the alliance is to seek mutual business opportunities through the exchange of knowledge, sharing products, combined development projects, enhancing purchasing power and sharing markets where applicable, while at the same time maintaining autonomy for both companies.
Groeneveld and Woerner shall continue to focus on the markets where they have an established and strong position, while together investigating new market opportunities, both in applications and in geographical scope. Groeneveld will continue to focus on markets where they are strong at: the on- and off-road sector, construction equipment and agricultural machines (everything with wheels or tracks), for installs of a wide variety of automatic maintenance and safety systems both in the aftermarket as well as for ex-factory installs at OEMs in the truck, bus, trailer and construction equipment industry. Woerner will continue to primarily focus on expanding their current business, being greasing and lubrication solutions for industrial applications, such as production machines and presses in the automotive industry, handling systems, paper machines, rolling mills, machine tools and production equipment in the cement industry. Both companies will share knowledge and components and will investigate where shared development projects and shared purchasing is of value for offering an even wider range of products to their customers.
The Letter of Intent was signed on Monday, 29 August, by Henk Groeneveld, CEO and President, and Ron den Engelsen, Board of Management of the Groeneveld Groep, and Sven Schultheis, Managing Director, and Matthias Kärcher, Director, on behalf of Woerner.
In a first reaction, Woerner’s Managing Director Sven Schultheis commented that the fact that the two companies, offering high quality automatic greasing systems for various applications to their customers, have found each other, will be in the benefit of their customers, as well as in the benefit of the further development of the companies and their employees.
Henk Groeneveld, CEO and President of Groeneveld Groep, commented that this is a typical example of synergy, where one plus one equals three. Groeneveld said both companies have the same philosophy of offering industry leading products and services, but in different markets with different products. Together they will be even stronger, of which their customers can only benefit.