ITALY - Biesse Group, a company that designs, manufactures and distributes systems and machines for machining wood, glass, stone, metal, plastic and composite materials, signed a contract for the acquisition of 100% of Forvet Costruzione Macchine Speciali S.p.A., a manufacturer of special automated machines for glass machining.

The value of the deal is around EUR 41 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 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.