Product category:
Manufacturing dealerships, agencies and acquisitions
News Release from: Tornos Technologies
Edited by the Manufacturingtalk Editorial
Team on 25 March 2008
Lathe builder acquires CNC systems maker
The Tornos Group has acquired 95% of the share capital of precision engineering firm Almac and 100% of CNC systems developer Almatronic.
The Tornos Group has acquired 95% of the share capital of Almac and 100% of Almatronic These two companies are based in La Chaux-de-Fonds, Switzerland, with some 40 employees
This article was originally published on Manufacturingtalk on 11 Jun 2001 at 8.00am (UK)
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Their combined turnover for 2007 was in the region of SFr 17 million.
* About Almac - Almac develops, manufactures and markets CNC machining equipment for small, high-precision parts, mostly for watchmaking applications.
Other customers are in the dental, medical and connector fields.
* About Almatronic - Almatronic specialises in computerised numerical controls (CNC) and programming.
Its main customer is Almac.
Tornos repoted that the acquired companies' shareholding system is diverse and consists primarily of private individuals.
The group of current shareholders was formed in 1997 at a time when Almac was going through a particularly 'rough patch'.
The group's aim was to recapitalise the company and get it back on track.
This objective has now been seen through to fruition.
The company is thriving and there is no longer any call for the temporary shareholding initiative which was originally developed to keep the company afloat.
According to the management of the two companies, the shareholders chose to trade in their shares to a commercial partner that would continue to develop Almac and Almatronic.
Reasons for the acquisition of Almac and Almatronic by Tornos Tornos said it has a key presence in a variety of market segments including automotive, medical, microtechnology (including watchmaking) and electronics.
As mentioned above, Almac's products are tailored to companies operating in the fields of microtechnology, medicine and electronics - three of the four key market segments in which Tornos is involved.
With their complementary, non- competitive machines, the two companies share the same target markets, allowing them to benefit from synergies in terms of sales and service networks.
* Future company organisation - Almac and Almatronic will remain independent companies.
They will not be merged with a company belonging to the Tornos Group.
They will still be based in La Chaux-de-Fonds and the current management will be retained.
Having said this, Almac products will benefit immediately from the sales and service network already established by the Tornos Group.
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