By Kari Williamson

PMG is being sold to German assent management company Vermögensverwaltung Erben Dr. Karl Goldschmidt GmbH (VVG).

Michael Schwarzkopf, Chairman of the Executive Board, says: “PMG had been part of the Plansee Group for over 50 years, and so we were looking for a buyer who would ensure the sustainable development of the company.”

Albert Frederick Freiherr von Dörnberg, Managing Director of VVG, adds: “We believe that PMG has huge potential. We plan to expand the company by further developing its systems business, strengthening its presence in growth markets, and developing innovative products that meet future transport needs, such as products for electric and hybrid vehicles. PMG also fits in really well with VVG’s industry portfolio.”