Product category:
Manufacturing dealerships, agencies and acquisitions
News Release from: XYZ Machine Tools
Edited by the Manufacturingtalk Editorial
Team on 06 March 2006
Southwestern Industries acquires XYZ
Machine Tools
Southwestern Industries, USA, has acquired XYZ Machine Tools, providing additional financial and technical resources to produce CNC machine tools for the UK and to extend XYZ presence in Europe.
The long-standing relationship between XYZ Machine Tools Limited and Southwestern Industries, Inc, which designs and manufactures the ProtoTRAK controls fitted exclusively to XYZ's manual/CNC lathes and turret/bed mills, has taken a step forward with the US company's acquisition of the Burlescombe, Devon, machine tool company "ProtoTRAK is XYZ's core product and still the best control available for one-off and small batch applications," said XYZ founder and managing director, Nigel Atherton
This article was originally published on Manufacturingtalk on 31 Jul 2008 at 8.00am (UK)
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"ProtoTRAK is increasingly important to XYZ and its success has enabled us to introduce machines that appeal across the board, from sub-contractors to major OEMs." According to Atherton, the change of ownership brings with it the additional financial and technical resources that are necessary to sustain XYZ's position as the largest supplier by volume of CNC machine tools to the UK market and to extend its presence in Europe.
"Our longer-term objectives are both realistic and achievable, and our customers will continue to enjoy the same high standards of service and support.
It is also the case that the change of ownership will not affect existing employees' roles and responsibilities.
In other words, it is business as usual," said Atherton.
Rich Leonhard, chairman and president of Southwestern Industries, confirmed that Atherton will continue to head the UK and European operations, with particular emphasis on increasing XYZ's market share.
"Southwestern Industries has concentrated on designing, building and supporting technology-driven products that maximise productivity.
In our 55 year history this is our first acquisition, so we have been 'picky. Request free introductory details about products from XYZ Machine Tools ...
However, XYZ Machine Tools is a very successful company and will play a key role in promoting our products throughout Europe.".
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