Italian Firm Cifin Holding Acquires elumatec Group

By April 14 , 2016
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elumatec

Under the umbrella of the Italian firm Cifin Holding, elumatec AG, an international leader in the manufacturing of machines for processing aluminium, PVC and steel profiles, is joining the EmmegiGroup to create a new heavy weight in the industry.Cifin Holding, which also owns Emmegi, announced January 14, 2016 that it has acquired elumatec AG and its subsidiary companies. The combined elumatec/Emmegi sales total around 225 millioneuros. The acquisition by Cifin Holding is another important milestone for the company, which was founded in 1928and had to file for bankruptcy in July 2013. A component of the future concept underlying the restructuring of elumatec was the planned sale of the elumatec Group. With over 700 employees, elumatec achieved consolidated sales of about 120 millioneuros in 2014. Emmegis.p.a. produces machines,

equipment and software for the handling of aluminium, steel and PVC profiles. The family company has around500 employees world wide and achieves sales of 105million euros. Together, Emmegi and elumatec possess six production units, five in Europe and one in Asia.

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