CIDAN Machinery Sweden AB acquires Forstner Maschinenbau GmbH in Austria.
CIDAN Machinery Sweden AB, the 110-year old company that is a well-known producer of superior sheet metal machinery, is proud to announce the acquirement 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´s and architectural sheet metal market. Forstner will continue to develop its successful business in Austria and make it the CIDAN Machinery Group’s main coil processing competence center, thus bringing more jobs and opportunities locally to Feldkirch where Forstner is located.
CIDAN Machinery Sweden today produces machines in the segments of excellent 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 center of the group with emphasis on power folders and shears and with continued production in Götene, Sweden.
”Forstner’s complementing high quality machines and strong presence in the German speaking countries gives the new group a fresh stronghold on a global market” says 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. Renato Romagna comments on why he sold to CIDAN as “the long-time collaboration proved that we could trust CIDAN to be a partner for bringing the Forstner machines and services out on 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 on the North American market.
The successfully achieved synergies of the companies will strengthen further, especially within the important areas of product development, purchasing, production, aftermarket and not least, within sales and marketing. This should be noticeable already in 2018 to demanding customers with high expectations for progress.
The group headquarter will be in Götene, Sweden, under the legal 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 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 single largest market and thereafter Germany and Sweden. The group will have a net revenue of close to 400 MSEK (40 m€) and about 160 employees.
Peter Tafazoli, CEO