sia Abrasives acquires Italian abrasives manufacturer (15/12/2008)
sia Abrasives acquired The Carbo Group Italia S.p.A., an Italian abrasives manufacturer based in Borgo San Giovanni in Lombardy, on 1 December 2008. Carbo employs some 30 people and supplies about 60% of its coated abrasives to the Italian market and about 40% to the European market. This acquisition complements the production lines in Frauenfeld and will provide sia Abrasives with a crucially important strategic location in the European Union in the medium term. The parties have agreed not to disclose the purchase price.
About the sia Group The sia Group based in Frauenfeld ranks among the world’s top three suppliers of flexible abrasives. It develops, manufactures and markets complete abrasive systems tailored to specific requirements and applications for surface preparation and finishing of all kinds. This commitment has made abrasive processes into true surface technologies. Employing some 1,150 people worldwide, sia Abrasives posted net sales of CHF 298 million and operating profit (EBIT) of CHF 30.3 million for 2007. sia Abrasives Holding AG is listed on the SIX Swiss Exchange and generates more than 90% of its sales outside Switzerland.
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