PITTSBURGH – Matthews International Corp. has announced the completion of its purchase of Wetzel Holding AG, Wetzel GmbH and certain related affiliates, according to a news release. Wetzel is a leading European provider of prepress services and gravure printing forms. Wetzel is headquartered in Muenchenstein, Switzerland and has its principal manufacturing operations in Germany and Poland. Matthews initially announced on Sept. 19, 2012 the signing of the definitive agreement for the purchase, which was subject to regulatory approval in Germany.
Wetzel will operate as a subsidiary within Matthews' Graphics Imaging Group. Sales for Wetzel were estimated to be approximately $52 million for fiscal 2012 and the company has approximately 400 employees.
Matthews International is a designer, manufacturer and marketer principally of memorialization products and brand solutions. Memorialization products consist primarily of bronze and granite memorials and other memorialization products, caskets and cremation equipment for the cemetery and funeral home industries.
Posted Nov. 27