Götene, Sweden-based CIDAN Machinery Sweden AB acquired Feldkirch, Austria-based Forstner Maschinenbau GmbH. Its headquarters remain in Götene.
Forstner Maschinenbau will continue its business in Austria and make it the CIDAN Machinery Group’s main coil processing competence center. CIDAN Machinery Sweden will further develop as the main competence center of the group with emphasis on power folders and shears and continued production in Götene.
Peter Tafazoli, CEO at CIDAN Machinery, said, “Forstner’s complementing high quality machines and strong presence in the German speaking countries gives the new group a fresh stronghold on a global market.”
The companies collaborated since 2011 when CIDAN Machinery, through its U.S. subsidiary, Peachtree City, Ga.-based CIDAN Machinery Inc., sold Forstner Maschinenbau’s machines in the U.S. The companies plan to strengthen their synergies, especially in product development, purchasing, production, aftermarket, sales and marketing.
Renato Romagna, former owner and now managing director at Forstner Maschinenbau, said, “The long-time collaboration proved that we could trust CIDAN to be a partner for bringing the Forstner machines and services out on the global market. With complementary products our companies make a perfect fit and the combination will strengthen the ability to invest in product development towards industry 4.0.”