Schuler Group acquires Bitrode Corporation
August 23, 2022 – Bitrode Corporation, a leader in the manufacturing of battery testing equipment has been acquired by the Schuler Group a world leader in metalforming. The purchase of the St. Louis company and its Italian parent company Sovema Group gives Schuler the capabilities needed to equip gigafactories for the mass production of lithium-ion batteries, whose large-scale availability is essential for the success of eco-friendly e-mobility on the road.
“We see Schuler’s ownership as a great opportunity for Bitrode to reach its technological potential,” said Cyril Narishkin, CEO and President of Bitrode. “Since 1957, we have served our customers with high-quality, reliable equipment and services. Now as part of Schuler Group, we will be able to accelerate new product offerings while leveraging Schuler’s wealth of resources and expertise.”
Schuler offers customer-specific cutting-edge technology in all areas of metalforming – from networked presses to press shop planning. In addition to presses, the product portfolio also includes automation, dies, process know-how, and service for the entire metalforming industry. Schuler’s Digital Suite brings together solutions for networking metalforming technology and is constantly being developed to further improve line productivity and availability.
Schuler’s customers include automotive manufacturers and suppliers as well as companies from the forging, household appliance, and electrical industries. Presses from the Schuler Group mint coins for more than 180 countries. Schuler was founded in 1839 at its headquarters in Göppingen (Germany) and has around 5,000 employees at production sites in Europe, China, and the Americas, as well as service companies in more than 40 countries. The company is part of the international technology group ANDRITZ.
“We can now combine Sovema Group’s technological expertise with our know-how in the production of complex lines for the mass manufacturing of parts and components,” said Domenico Iacovelli, CEO of Schuler Group. “This gives us the potential to develop Schuler into a turnkey supplier of technology for the core process steps of cell assembly and cell formation for existing or planned gigafactories dedicated to manufacturing lithium-ion battery cells.”
Schuler already offers production lines for the cost-efficient mass manufacturing of both prismatic and cylindrical battery cell housings. Now Schuler will be the sole owner of the Sovema Group with includes Bitrode. The technology company has systematically expanded its classic product range of highly efficient press lines over the past five years. It is now a leader in the digitalization and networking of forming technology and offers an increasing number of machines in the field of sustainable technologies. In addition to battery case production, this includes lines to produce laminations for electric motors and to manufacture fuel cells and electrolyzers for the hydrogen industry.
For over 60 years Bitrode has supported some of the world’s most innovative people and organizations, enabling them to produce sustainable and renewable energy solutions. For more information see www.Bitrode.com and www.schulergroup.com/E-Mobility.