PERI completed the acquisition of a majority stake in KERN Tunneltechnik.

PERI, a manufacturer and supplier of formwork and scaffolding systems, completed the acquisition of a majority stake in KERN Tunneltechnik, a provider of secondary lining solutions for tunnelling projects. Financial terms were not disclosed. "The merger with PERI opens up new perspectives for both companies and allows us to be stronger on the market in the future - worldwide. This means that both we and PERI can place our service to customers on an even broader basis and fulfil further requirements," Reiner Kern, KERN Tunneltechnik CEO.