GRAND RAPIDS, MI--Siemens has acquired Mannesmann Dematic and its subsidiary, Rapistan Systems, and formed a new company, Siemens Dematic Corp.

The new company merges Mannesmann and Rapistan with Siemens Production and Logistics Group, one of the world's largest suppliers of material handling and logistics automation systems. The combined companies will have approximately 21,000 employees worldwide and post annual sales of $4.2 billion.