With its acquisition of the Suello, northern Italy operation, the Schuler Group says it “has rounded out its own product portfolio in the field of forging and single-stroke presses”. Farina Presse will gain access to Schuler’s global distribution network for its products and continue to operate under its own brand name.
“By acquiring Farina Presse, we have taken a further successful step in our product strategy of strengthening Schuler’s market position in the mid-range price and performance segment,” said Schuler CEO Domenico Iacovelli. “Farina Presse already supplies interesting customer groups in Europe and, together with Schuler, will also serve customers in Asia and North America in the future.”
Paolo Civardi, general partner of Farina Presse, stated: “Becoming a member of the Schuler Group offers Farina Presse a unique growth perspective as it will give us access to new international markets. In return, Schuler will benefit from the flexibility and favourable cost structures of a small forging line specialist like Farina Presse.”
In 2017, Farina Presse generated sales of around €21 million with just over 40 employees. The company mostly supplies customers in Italy, Spain and Germany at present and is particularly successful in the automotive industry. With press forces of between 750 and 8,000 tonne, the machines produced by Farina Presse cover a wide performance spectrum.
Schuler is a €1.233bn turnover global operation and employs 6,570, according to its 2017 annual report.
