Wacker-Neuson

Shareholders controlling almost 90% of Austrian compact equipment manufacturer Neuson Kramer have signed the final agreement to merge the company with Germany's Wacker. The deal was originally announced in April, and is due for completion in October. The acquisition by Wacker will be financed as a share swap. The new company will be lead by Dr. George Sick, the current CEO of Wacker. He will head-up a management team composed of the full executive boards of both Wacker and Neuson. Neuson founder and current CEO Johann Neunteufel will work as chairman of the company's supervisory board.