Glaston Corp. Completes Acquisition of Swiss-German Based Bystronic

Glaston Corp. has completed its acquisition of Bystronic, the Swiss-German based provider of machinery, systems and services for glass processing. The acquisition was originally announced on January 25, 2019 and closed on April 1, 2019.

“The acquisition, which is a major step in the execution of our strategy, is
a response to market demand for efficiency, more demanding requirements
for glass features, safety and quality as well as an increased focus on services. With our combined capabilities and expertise, we will be able to offer customers equipment, services and solutions from one supplier, optimizing customer operations and driving customer value,” says Glaston Corp. president and CEO Arto Metsänen. “The combined services offering will lead to appealing advantages for the customers and provide a base for further development of services covering the whole glass processing chain in the future. I warmly welcome Bystronic’s employees to Glaston and this exciting journey.”

Changes to the Executive Management Group

In connection with the acquisition, Glaston has made changes to its executive management group (EMG). The EMG will consist of Metsänen, COO and integration lead Sasu Koivumäki and Burghard Schneider, who will be responsible for Bystronic. Juha Liettyä will be responsible for Glaston technologies. Päivi Lindqvist will continue in her position as CFO.

Assa Abloy Acquires Spence Doors in Australia

Assa Abloy has acquired Spence Doors, an Australian manufacturer of commercial doors.

“I am very pleased to welcome Spence Doors and its employees into the Assa Abloy Group. This acquisition delivers on our strategy to strengthen our position in the mature markets through adding complementary products and solutions to our core business,” says Nico Delvaux, president and CEO of Assa Abloy.

“Spence Doors is an excellent addition to the Asia Pacific Division and complements our existing door opening solutions offering for our customers. The acquisition provides potential to accelerate our growth utilizing its comprehensive footprint around Australia,” says Anders Maltesen, executive vice president of Assa Abloy and head of the Asia
Pacific Division.

Spence Doors was established in 1951 and has approximately 260 employees. The main office is located in Melbourne, Australia. Sales for 2019 are expected to reach about $47.7 million (AUD 67 million) and the acquisition will be accretive to EPS from the start.

Greco Aluminum Railings Acquires Petersen Metals

Greco Aluminum Railings, a subsidiary of CSW Industrials Inc. and a manufacturer of engineered railing and safety systems, has acquired Petersen Metals. Petersen is a regional specialty manufacturer and installer of architectural metal products, headquartered in Hudson, Fla. Dino Aleo, president of Greco Aluminum Railings, says, “Petersen
Metals has an excellent track record of profitable growth over almost 30 years while maintaining its commitment to quality, service and technical proficiency. We believe this approach optimizes the company for long-term market leadership.”

With the acquisition, Greco expands its market focus from multifamily and commercial construction to now include educational, institutional, healthcare, retail, entertainment and hospitality projects. The addition of Petersen nearly doubles Greco’s manufacturing, sales, project management and installation services. Petersen’s added manufacturing
capabilities include CNC milling and turning, press brake forming, coping, TIG welding and waterjet services, all which enable more efficient production across all product lines, according to the company.

“The strategic integration of Peterson Metals will be implemented over the coming months and will be a critical part of our Greco growth strategy in the United States,” says Jim Ellsworth, president of Greco’s U.S. operations.

To view the laid-in version of this article in our digital edition, CLICK HERE.