Siemens Corp. Acquires Cortland's Service Guide Inc.
CORTLAND, Ohio -- Siemens Industry Inc., says that it’s completed the acquisition of Service Guide Inc., an industrial repair and refurbishing company based here.
The agreement calls for Siemens to acquire three of Service Industry's four plants in Cortland and Warren, according to a press release issued by Siemens.
"The acquisition of Service Guide Inc. will continue to enhance Siemens' capabilities, allowing us to provide a more complete spectrum of service products for our customers," said Gabriel Royo, vice president, metallurgical services.
Terms of the agreement were not disclosed. This is the second investment Siemens has made in the Mahoning Valley this year. In March, the company's U.S. division, Siemens Corp., awarded a $444 million in-kind grant to Youngstown State University.
Service Guide Inc. would be integrated into Siemens Industry's metals technologies business unit and customer services division. "Combining these portfolios provides steel and aluminum mill customers with a single source of for components and equipment services," Royo said.
Service Guide, established in 1964, refurbishes industrial equipment used in the steel and aluminum industries.
"Siemens' resources and access to worldwide markets are key components to growing the business and increasing its global footprint," said Grank Oakes, Service Guide's president emeritus. "We look forward to merging our long-term customer relationships and service expertise in the metals industry with the Siemens portfolio.
The three Service Guide plants employ 100 and will continue to operate at their present locations, Siemens said.
Published by The Business Journal, Youngstown, Ohio.
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