Biesse Group acquires Forvet S.p.A.

Biesse Group, a company that designs, manufactures and distributes systems and machines for machining wood, glass, stone, metal, plastic and composite materials, listed in the STAR segment of the Milan Stock Exchange, today signed a contract for the acquisition of 100% of the quotes of Forvet Costruzione Macchine Speciali S.p.A., a manufacturer of special automated machines for glass machining.

The value of the deal is around 41 Euro mln and it will be regulated by cash mainly within this year end.

This operation, in line with Biesse Group's strategic plan, will increase the product portfolio of glass machining centres, a sector in which the Group has been present since the second half of the 1980s with Intermac brand technologies. Indeed, thanks to the introduction of Forvet S.p.A.'s proprietary technologies, the group strengthens its offer towards the high end of the market by offering highly automated, customised and unique machines and systems.

"This is a strategic acquisition that allows us to complete the range of glass machining centres with complementary industrial solutions that can be perfectly integrated with our technologies, thus offering technologically advanced customers modular lines and automated systems that can guarantee high levels of productivity and flexibility" said Roberto Selci, Biesse Group CEO.

Forvet S.p.A., founded in Volvera, Turin, in 1990, is a unique reference in the market for the production of automated lines that encapsulate a high level of know-how, capable of producing a complete product in a reduced space, including loading, unloading and intra-logistics operations that can be customised according to customer needs.