- Acquisition in the Sheet Metal Processing segment
- Bystronic acquires TTM Laser S.p.A. Cazzago San Martino (Italy)
ZURICH / ACCESSWIRE / March 20, 2018 / Conzzeta (SWX: CON) has reported signing an agreement for the complete acquisition of the Italian technology company TTM Laser S.p.A., based in Cazzago San Martino, Brescia. TTM Laser has been operating since 2001; in 2017, its around 40 employees generated revenue of approximately EUR 14 million. The transaction is planned to be concluded in the coming weeks.
Bystronic, which is part of the Conzzeta Group, is a leading global provider of high-quality solutions for the sheet metal processing business. With the technologies provided by TTM Laser, Bystronic is deepening its existing offering in the process step "cutting". TTM Laser offers 3D-applications for processing tubes with a diameter between 12 and 815 millimeters and for profiles. The two companies had previously agreed to a sales partnership in November 2017.
Alex Waser, CEO of Bystronic and member of Conzzeta's Executive Committee, commented: "In addition to the automated and networked processing of sheet metal, the additional processing of tubes and profiles is an important element for our customers to position themselves against the competition. Now that Bystronic has come together with TTM Laser, our customers are set to gain access to a unique range of technologies for their sheet metal processing. Together, we want to promote innovative manufacturing solutions."
Inquiries and further information:
Michael Stäheli, Head Investor Relations & Corporate Communications
Phone +41 44 468 24 49
media@conzzeta.com
About Conzzeta
Conzzeta is a broadly diversified Swiss group of companies. It represents innovation and reliability with a long-term perspective. Conzzeta strives for leading positions in its target markets, above-average growth and long-term value creation. Over 4,700 employees at more than 60 locations worldwide are dedicated to offering customers innovative solutions in Sheet Metal Processing, Sporting Goods, Foam Materials, Graphic Coatings and Glass Processing.
Conzzeta AG is listed on the SIX Swiss Exchange (SIX:CON).
SOURCE: Conzzeta