October 20, 2022: The acquisition of the Sovema Group by German metal-forming group Schuler was completed as planned at the end of last month, a Schuler spokesperson told BESB on October 17.

The takeover deal, for an undisclosed sum, was announced on August 23 and covered all Sovema entities including Solith, which provides equipment for lithium ion cell and module production, Sovel —formation systems for lead and lithium storage technologies — and US-based battery testing equipment company Bitrode.

Sovema general manager Massimiliano Ianniello said in August that the acquisition would ensure the group could “play a major role in the gigafactory challenge”.

“So far, our size allowed us to serve our customers with high quality product sand customization. Now, as part of Schuler, we will finally be able to reach the volumes required by the massive demand for battery manufacturing equipment in Europe and beyond.”

Sovema changed its name to Sovema Group in June 2017, in line with the lead battery equipment manufacturer’s expansion into making machinery for the lithium ion industry.

Schuler, part of the international technology group Andritz, was founded in 1839 and has production sites in Europe, China, and the US, as well as service companies in more than 40 countries. Schuler’s client base includes automotive manufacturers and suppliers and electrical industries.