York County-based Graham Engineering Corp. has acquired assets and assumed certain liabilities of Montgomery County-based Welex Inc., and current or former executives of Welex have been named to leadership posts in the organization.
Welex is a leading provider of high performance sheet extrusion solutions. Its manufacturing operations are expected to be integrated into Graham Engineering‘s operations, according to a news release.
In addition, former Welex President and CEO David Schroeder has been appointed president of Graham Engineering and current Welex President Wolfgang Liebertz has assumed the role of CEO, the release stated.
The transaction follows The Graham Group‘s acquisition last year of majority interest in Rhode Island-based American Kuhne, according to the release.
Graham Engineering is part of The Graham Group and its core business is manufacturing and selling high-speed plastics processing machinery, according to the latter’s website.