Biesse Group Signs Agreement to Acquire Maker of Glass Machining Equipment

Biesse Group signed a contract for the acquisition of 100 percent 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 $47.7 million 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 centers, a sector in which the Group has been present since the second half of the 1980s with Intermac brand technologies.

"This is a strategic acquisition that allows us to complete the range of glass machining centers 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," says Roberto Selci, Biesse Group CEO.

Forvet S.p.A., founded in Volvera, Turin, Italy, 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 customized according to customer needs.