Acquisition
Schuler buys press manufacturer Farina
Schuler takes over the Italian press manufacturer Farina, thereby strengthening its market position in the medium capacity segment.
Schuler has acquired the Italian manufacturer of forging lines Farina Presse. With this acquisition, Schuler is expanding its product portfolio in the areas of forging and single-stroke presses. Farina will continue to operate under its own name and utilize Schuler's worldwide sales network.
"With the acquisition of Farina, we have taken another important step on the product side to strengthen Schuler's market position in the mid-price/performance segment," says Domenico Iacovelli, CEO of Schuler. "Farina Presse is already supplying interesting customer groups in Europe and, together with Schuler, will also become a supplier in Asia and North America in the future."
Paolo Civardi, Managing Partner at Farina Presse, on the sale: "Our future affiliation with the Schuler Group offers Farina unique growth prospects as we gain access to new international markets. Schuler can benefit from the flexibility and favorable cost structures of a small forging line specialist like Farina."
Farina reported a turnover of around 21 million euros for 2017. The company employs 40 people and has mainly supplied the automotive industry in Italy, Spain and Germany to date. The machines have pressing forces of between 750 and 8000 tons.
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