Fagor Automation has acquired the majority of the shares of the Italian company FR Engraving S.r.l. located in Legnano (Italy). It is a technological company dedicated to the research, development, manufacturing and commercialization of engraved substrates, based on metal strips and glass. This engraving is carried out through different processes.
The transaction was formalized on May 23, with Fagor Automation taking a 51% majority stake in the company.
This operation reaffirms Fagor Automation’s direction towards strengthening its technological capabilities associated with its diversification strategy in the field of position measurement for different applications.
“The majority stake in FR Engraving S.r. is related to our innovation strategy, which in recent years has been aimed at focusing efforts on our core technologies. This operation will help us to strengthen the development of new measurement substrates to complete Fagor Automation’s wide range of products and further improve their performance,” says Jose Emilio Oti, R&D manager of Fagor Automation’s Feedback Systems business.
This new acquisition is another example of Fagor Automation’s strategy, whose main objective is to continue to strengthen its commitment to technology. Specifically, one of the main lines within the strategic plan of Fagor Automation’s feedback systems division is the generation of business in other sectors outside the machine tool sector.
The acquisition of FR Engraving has a direct impact on the development of these industries as it reinforces its leadership spirit, moving forward to continue offering its customers the best solutions to meet their needs.
The Basque Country-based company, with great experience in the development and manufacturing of products for machine automation and control, is distinguished by its capacity for hardware and software development, and by the flexibility of its production system to offer customized solutions.
The firm Norgestion as financial advisor in this transaction has assisted Fagor Automation, while the Italian firm Quorum Studio Legale e Tributorio Asociato has acted as legal advisor.