Water Jet Sweden acquires systems sub-contractor
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Water Jet Sweden has acquired one of its prime sub-contractors, Swede Matic AB, also of Sweden.
Swede Matic is a supplier of customised automation systems, including water jet systems. Water Jet Sweden said of Swede Matic: "It has a long-established and highly-esteemed team of design engineers, who have contributed vital work in the development of prototype new WJS machine models before series production."
Established in 1995, Swede Matic will continue serving existing and new clients with its customised automation systems, bit will benefit from access to WJS's market area, opening up new opportunities for its products. Water Jet Sweden has offices in Europe and Asia, with its UK office located in Wetherby, West Yorks.
Said Lennart Svensson, CEO and chairman of Water Jet Sweden Group: "As a result of our ever-growing and successful working relationship with Swede Matic in our new technology development activities, we see the full integration of the company into the group as a positive entrepreneurial step."
Nils Rosenquist, managing director, Swede Matic, who will continue to lead and manage Swede Matic under the new ownership, added: "We are all proud of becoming part of the Water Jet Sweden Group and sharing in its phenomenal success."