New acquisition for CIDAN Machinery Sweden AB
CIDAN Machinery Sweden AB, the 110-year old producer of sheet metal machinery, has announced the acquisition of 100% of the shares in Austrian Forstner Maschinenbau GmbH, effective as of the end of December 2017.
“Forstner produces a broad portfolio of coil processing machines for the industrial, roofer and architectural sheet metal market. Forstner will continue to develop its business in Austria and make it the CIDAN Machinery Group’s main coil processing competence centre, bringing more jobs and opportunities locally to Feldkirch where Forstner is located,” CIDAN told ISMR.
CIDAN Machinery Sweden today produces power folders and guillotine shears as well as coil processing machines for the same customer applications as Forstner. CIDAN Machinery Sweden will now further develop as the main competence centre of the group with the emphasis on power folders and shears and with continued production in Götene, Sweden.
“Forstner’s complementary high-quality machines and strong presence in German-speaking countries gives the new group a fresh stronghold on a global market,” said Peter Tafazoli, CEO of CIDAN Machinery.
Former owner and current managing director of Forstner, Renato Romagna, will remain in the company to secure a smooth transition. He commented that “the long-term collaboration proved that we could trust CIDAN to be a partner for bringing Forstner machines and services onto the global market. With complementary products, our companies make a perfect fit and the combination will strengthen the ability to invest in product development towards industry 4.0.”
The two companies have collaborated since 2011 when CIDAN Machinery, through its U.S. subsidiary CIDAN Machinery Inc., started to sell Forstner machines in the North American market. The group headquarters will be in Götene, Sweden, under the name of CIDAN Machinery Sweden AB. The three current brand names of Göteneds, CIDAN and Forstner will be kept in the new group constellation.
CIDAN Machinery Group will, after the acquisition, have its own locations throughout Sweden, Austria, Denmark, the U.S and China. Through an extensive dealer and agent network, the combined product range and services will be sold all over the world. The U.S. is the Group’s single largest market followed by Germany and Sweden. The group will have a net revenue of close to 400 MSEK (40 m€) and about 160 employees. See www.cidanmachinery.com and www.forstnercoil.at/en
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