PFERD parent company acquires Italian milling, drilling toolmaker
The majority stake in Silmax SpA, an Italian manufacturer of milling and drilling tools for metalworking, has been acquired by the Rüggeberg Group. Rüggeberg, known for its PFERD brand, specializes in developing, manufacturing, and selling tools for surface processing and metal cutting.
"Silmax's DNA will be retained," said PFERD CEO Jörn Bielenberg. "Dr. Dario Fumagalli, managing director and shareholder, will continue in his role while also retaining his shareholding. Our goal is to generate joint growth and utilize synergies. We are counting on the loyalty of the employees, some of whom have been with the Silmax group for many years.
"Both groups of companies focus on finding innovative solutions for end users, premium product quality, and intensive exchange with customers," he added. "Additionally, both companies are family businesses with very similar values."
INDUSTRIAL SUPPLY MAGAZINE
The November/December issue of Industrial Supply magazine features an in-depth cover story about Kimball Midwest. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Mike Marks, as well as interviews with numerous product and distribution industry experts.
