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The Kardex Group is acquiring MLOG Logistics GmbH, headquartered in Neuenstadt am Kocher (Germany), for around EUR 30 million. The purchase price is to be debt-financed. MLOG will be consolidated in the Kardex Group accounts with effect from May 1, 2010. The company is to remain at its present location at Neuenstadt am Kocher under the MLOG management. It will operate as a third division under the name Kardex MLOG (Automated Warehouse and Materials Handling Systems), complementing the two existing divisions Kardex Remstar and Kardex Stow.
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