Emmegi group acquires Elumatec
19th January 2016

Cifin Holding, the Italian owner of the Emmegi Group this week announced the acquisition of Elumatec AG to create a new industry giant with combined sales around 225million Euro.

Cifin President Valter Caiumi said of the move: “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 also brings us to the kind of dimension which will permit greater investments in research and development.”

Emmegi and Elumatec will be 100% controlled by the holding company Cifin, with a combined workforce of around 1,200 and six manufacturing plants in Europe and Asia. They will operate globally through 52 companies, spanning production, sales and service activities.

A statement from Elumatec says: “The acquisition by Cifin Holding is another important milestone for the company, which was founded in 1928 and had to file for bankruptcy in July 2013.

Tobias Hoefer, Supervisory Board Chairman and insolvency administrator for elumatec GmbH, said: “In light of the results we achieved today, our decision, with the approval of the creditors, to lead elumatec on an extraordinary and sustainable path of restructuring, has proved to be the correct course of action. Since the start of elumatec AG at the beginning of 2014, the company's value and therefore also the value for creditors in the insolvency process has continuously increased.”

Britta Hübner, CEO of elumatec AG, said: "Our restructuring concept is a resounding success, making it possible for elumatec to continue operating in the global market at full capacity and without the burdens of the past. Cifin possesses an outstanding understanding of our market. This industry solution comes at just the right time. It ensures continuity and growth for our company."

Like elumatec, Emmegi s.p.a. produces machines, equipment and software for the handling of aluminium, steel and PVC profiles. The family company has around 500 employees worldwide and achieves sales of 105 million euros, with 84 million euros of that figure coming from international markets. In addition to its headquarters in Soliera (Modena), Emmegi maintains production facilities in Piacenza, Reggio Emilia and Suzhou (China).