Cifin, the holding company of the Emmegi Group, based in Modena, Italy has signed an agreement for the purchase of the Elumatec Group, the designer, manufacturer and seller of machinery, lines and equipment for working aluminium, PVC and light alloys.
Valter Caiumi, Cifin’s president, said: “This purchase lays the foundations for the most important group in our sector, uniting creativity, operational expertise, technology and international experience. The new group will offer an extraordinary combination of strengths, which will provide our customers with remarkably high added value. We will have the opportunity to expand beyond our own main market, principally connected with the building industry, and to propose increasingly innovative technologies to manufacturing industry in the widest sense.”
“This operation”, added Caiumi, “also brings us to the kind of dimension which will permit greater investments in research and development. We are entering a phase of major evolution in terms of industrial systems. Manufacturing industry must quickly come to terms with the deep integration of digital technology with productive process.
“The integration of two dynamic business organisations like Emmegi and Elumatec, with notable consequent economies of scale, will allow us to improve our growth strategy and reinforce our standing on the global market. Our new industrial dimension will give us the strength necessary to boldly engage with the challenges presented by technological innovation and ever more intense market competition.”
Founded in Germany in 1928, the Elumatec Group has a workforce of roughly 700 and forecasts a 2015 turnover of approximately 120 million Euros, of which about 100 million from foreign markets.
As well as the company headquarters and main manufacturing plant based in Stuttgart, Germany, Elumatec also has a manufacturing plant in Bosnia Herzegovina, a sales network of about 30 branches and distributors in more than 50 countries.
Emmegi and Elumatec will be controlled by Cifin, with a combined workforce of around 1,200, achieving a total turnover of roughly 225 million Euros. With six manufacturing plants – five in Europe and one in Asia – they will operate globally through 52 companies.
Founded in 1972 by Giuseppe Caiumi, Cifin Holding includes in its portfolio several brands, including Emmegi, Tekna, Emmegisoft and Keraglass, recording a continuous growth. Cifin today is guided by Valter Caiumi, in the role of President, along with his siblings Andrea and Paola as members of the Board of Directors. The companies controlled by Cifin are a reference point in the production of technologies for working aluminium, PVC, light alloys and glass. As well as its prime base in Soliera (Modena), Cifin has manufacturing plants in Piacenza, Reggio Emilia and Suzhou (China).
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 organisation.”
Phil Heavey, managing director of Elumatec UK added: “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.”
