VBG Group-backed Ringfeder Power Transmission to acquire the industrial brake business of Tüschen und Zimmermann.

VBG Group-backed Ringfeder Power Transmission, a machinery company providing locking devices and shock absorbing technology, agreed to acquire the industrial brake business of Tüschen und Zimmermann, a manufacturer and provider of brake systems and mechanical engineering services. Financial terms were not disclosed. “It is a minor acquisition financially for us, but from a strategic perspective the acquisition is very important. The acquisition fits well with our goal to grow as an industrial group and the products are fully in line with our ambition to create a safer society. The brake systems are unique solutions that contribute to safer working conditions in the mining industry," Anders Birgersson, VBG Group President and CEO.