| Announcements |
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Kyro Founds New Tools Company for Glaston Technologies
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 A new company has been founded to complement Kyro Group's main business area,
Glaston Technologies. DiaPol S.r.l. manufactures tools meant for glass and stone pre-processing.
DiaPol continues and expands the existing Tools division operations of Z. Bavelloni, a part of Glaston Technologies. The main reason for the incorporation is Glaston Technologies´ wish to develop and grow the tools business. The growth strategy of the Italian-based DiaPol is founded on expansion of the company's product portfolio as well as its sales channels.
DiaPol will continue the manufacturing of diamond glass and stone grinding tools under Z. Bavelloni's recognized top-quality brand. Furthermore, it has developed a series of polishing tools alongside the grinding tools selection. Expanding its product offering makes DiaPol the only global company in the glass and stone processing industry manufacturing and providing both grinding and polishing tools.
Until now, Bavelloni's Tools division has manufactured tools mainly for Bavelloni's pre-processing machines. DiaPol manufactures tools suitable for Bavelloni's as well as other manufacturers' machinery. Hence, tools are now available to a wider range of customers. Bavelloni is the leading supplier of grinding machinery. This provides the new company with a good market position, as the synergies between Bavelloni's machinery manufacturing and the tools business are strong.
DiaPol will sell Bavelloni tools through the worldwide Tamglass-Bavelloni sales organization. It will also operate as a contract manufacturer of other brands, sold through sales channels such as tools wholesalers. In addition to Italy, the company has manufacturing in Brazil and in China, adjacent to Glaston Technologies' glass machinery assembly factory.
Cosimo Gabriele, the Director of Bavelloni's Tools division, has been appointed Managing Director of Diapol S.r.l.
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January 23rd, 2006
Source: Kyro Technologies |
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