Expands portfolio in the glass processing sector
The Biesse Group, a company listed on the STAR segment of the Milan Stock Exchange that designs, manufactures and markets systems and machinery for the processing of wood, glass, stone, metal, plastics and composites, signed an agreement the day before yesterday to acquire 100 percent of the shares in Forvet Costruzione Macchine Speciali S.p.A., a manufacturer of specialized automated machinery for glass processing based in Volvera, near Turin. The value of the transaction amounts to approximately 41 million euros and will be settled mainly in cash during the current fiscal year.
This transaction is in line with the Biesse Group’s growth strategy and will significantly expand the product portfolio of glass processing machinery. Biesse has been present in this field since the mid-1980s with “Intermac” brand technologies. Thanks to the introduction of its own technologies by Forvet S.p.A., the Group is strengthening its offer in the upper segment of the market by providing highly automated, customized machines and systems that are unique in this sector. “This acquisition is great, Forvet is on the market with great solutions and we are thus expanding our offer in the glass sector very successfully along the complete process chain,” Federico Broccoli, Chief Commercial and Subsidiaries Officer underlined during a digital press conference.
“This is a strategic acquisition that allows us to complete the range of glass processing machines with industrial solutions that complement and integrate perfectly with our technologies. This allows us to offer our technologically advanced customers modular lines and automated systems that guarantee a high level of productivity and flexibility,” commented Roberto Selci, CEO of the Biesse Group.
Founded in 1990, Forvet S.p.A. is known in the market for the production of automated lines that incorporate a high level of know-how and are capable of producing a complete product in a small space, including loading and unloading operations and intralogistics that can still be customized according to the customer’s requirements.