Biesse Group signed a contract to acquire 100% of the quotes of Forvet Costruzione Macchine Speciali S.p.A., a manufacturer of special automated machines for glass fabrication. The deal has a value of about $47,275,599.45*, according to the announcement.
“This is a strategic acquisition that allows us to complete the range of glass machining centres with complementary industrial solutions that can be perfectly integrated with our technologies, thus offering technologically advanced customers modular lines and automated systems that can guarantee high levels of productivity and flexibility,” says Roberto Selci, Biesse Group CEO.
According to the companies, the acquisition allows Biesse Group to increase its product portfolio of glass processing machines and offer automated, customized machines and systems.
“The result of the product offered will be increasingly advanced technology with modular lines and automated systems, capable of guaranteeing high productivity with the incredible flexibility typical of Forvet products,” says Davide Gariglio, Forvet S.p.A. CEO.
* Indicates financial information converted from EUR to USD on October 13, 2021