Taiwan's Fair Friend snaps up five machine tool firms in Italy, Japan and South Korea
Taiwan's Fair Friend Group, which makes Feeler brand CNC machine tools (Engineering Technologies Group), has acquired five overseas machine-tool firms, reports cens.com.
The acquisitions include three Italian firms – JOBS, Sachman (pictured) and SIGMA; one Korean firm, DMC; and one unnamed Japanese lathe manufacturer with over one hundred years' history.
This is said to add £210 million of revenue a year to the group that boasted £1.18 billion of consolidated revenue last year, including £750 million from it machine tool business.
JOBS makes large gantry machining centres and boring machines, predominantly for the aerospace sector; Sachman makes boring machines; SIGMA manufactures 5-axis vertical machining centres; and DMC is South Korea's sixth largest machine tool builder, making vertical and horizontal machining centres, lathes, and automotive production plant.
