Kevin Meehan, Executive Vice President & COO, Hydromat, Inc.
Kevin Meehan, Executive Vice President & COO, Hydromat, Inc.
Matthias Walter, Executive Vice President & CSO, Hydromat, Inc.
Fair Friend Group (FFG) recently signed an agreement with K.R. Pfiffner AG (Pfiffner Group) to acquire all shares of the Pfiffner companies. "The transaction will be finalized once there has been confirmation by the relevant authorities," said a company spokesperson. "This deal adds high-precision, high-volume machining to the portfolio of brands in FFG's Machine Tool Division."
Hydromat, Inc., headquartered in St. Louis, MO, is Pfiffner's partner in the Americas. "I met with Luigi Maniglio, President of FFG Werke GmbH prior to the announcement of this acquisition, and I believe that he and his team are fully engaged in the growth and advancement of FFG's Machine Tool Division," said Bruno Schmitter, President & CEO of Hydromat. "Because of this, the Pfiffner Group will be stronger and more innovative than ever, and that will make Hydromat even more successful and better able to meet the demands of our customers. We are very pleased with this partnership."
The agreements between Hydromat and the Pfiffner Group will remain the same as before. "Pfiffner should be a very strong enterprise moving forward," said Matthias Walter, Executive Vice President & CSO for Hydromat. "We are happy that our partner, Pfiffner, an excellent company, will be guaranteed a very bright future."
FFG Werke GmbH is an independent group member of the global FFG family that benefits from the leadership of Fair Friend Group. In 2013 FFG acquired six European machine tool brands: VDF Boehringer, Hller Hille, Hessapp, Honsberg, Modul and Witzig & Frank. In 2014 Hydromat became the sales and service organization in North America for Witzig & Frank, a previous partner of Hydromat for many years. FFG's machine tool sector has 19 brands and 31 machine tool enterprises mostly in Taiwan, Japan, South Korea, China, the USA, Italy, Germany and now Switzerland.
"The growth strategy that FFG employs is in line with the needs of the Pfiffner Group, and it will enhance their reputation in the rotary transfer sector," said Kevin Meehan, Hydromat's Executive Vice President and COO.
For more information contact:
Kevin Shults
Hydromat, Inc.
11600 Adie Road
St. Louis, MO 63043
314-432-4644
kshults@hydromat.com
www.hydromat.com