Cifin Holding, which also owns Emmegi, announced today that it has acquired elumatec AG and its subsidiary companies.All parties involved in the deal have agreed not to disclose any details about the transaction.
In an official announcement to its customers and industry partners, elumatec AG said: ‘Cifin Holding, which has now acquired elumatec AG and all its subsidiary companies, also owns the Emmegi Group, which, as you know, is active in the same industry. Therefore, Cifin Holding already possesses an outstanding understanding of our market.
‘elumatec and Emmegi will remain autonomous companies that will operate independently of one another as competitors in the market. However, the new structure enables us to achieve solid growth and a much stronger presence in this economic sector. You can continue to expect ingenuity, expertise, technology and competency from us. You, our customers, will also benefit from our new corporate organization.
‘Looking ahead at 2016 and 2017, we are already able to announce in-house product developments that will make it possible for us to offer innovations that will lead us forward and benefit our customers in the future. Of course, our global sales and service network will continue to operate in this new configuration just as reliably as you have come to expect.’
Their official press announcement adds: “Britta Hübner, CEO of elumatec AG, said: ‘Our restructuring concept is a resounding success, making it possible for elumatec to continue operating in the global market at full capacity and without the burdens of the past. Cifin possesses an outstanding understanding of our market. This industry solution comes at just the right time. It ensures continuity and growth for our company.’
Cifin President Valter Caiumi added: ‘This acquisition enables both companies to achieve solid growth and a much stronger presence in this economic sector. With ingenuity, expertise and innovative technology, we can increase the added value for our customers, who stand to benefit above all from this outstanding combination.’”
Phil Heavey, managing director of elumatec UK said: ‘I was delighted to be able to make this announcement to our customers and partners and hope they will see the positive benefits to them and to the industry. If anyone would like to request additional information or has questions they are welcome to contact me any time on 01908 580800 and of course we look forward to meeting visitors to the elumatec stand at the FIT Show in April.’
With over 700 employees, elumatec achieved consolidated sales of about 120 million euros in 2014. In addition to its headquarters and production facility in Mühlacker, elumatec maintains a sales and production facility in Bosnia-Herzegovina as well as an existing sales and service network of more than 30 subsidiary and second-tier subsidiary companies and numerous dealers in over 50 countries across the world.
Like elumatec, Emmegi s.p.a. produces machines, equipment and software for the handling of aluminium, steel and PVC profiles. The family company has around 500 employees worldwide and achieves sales of 105 million euros, with 84 million euros of that figure coming from international markets. In addition to its headquarters in Soliera (Modena), Emmegi maintains production facilities in Piacenza, Reggio Emilia and Suzhou (China). Together, Emmegi and elumatec possess six production units, five in Europe and one in Asia.
Cifin Holding S.r.l. was founded in 1972 by Giuseppe Caiumi. Today the holding is led by Valter Caiumi, who serves as president, alongside his siblings Andrea und Paola, who belong to the Management Board. Cifin’s brand portfolio includes the companies Emmegi, Tekna, Emmegisoft and Keraglass. The companies controlled by the holding represent a market leader in the production of processing technologies for aluminium, PVC, light metal and glass, and report continuous growth.
In addition to the company headquarters in Soliera (Modena), Cifin Holding owns production facilities in Piacenza, Reggio Emilia and Suzhou (China). In 2015, the company achieved consolidated sales of approximately 105 million euros, 80% of which was derived from international markets. Cifin Holding has more than 500 employees, 112 of whom are based internationally.