Binder+Co takes over Italian mechanical engineering company
Gleisdorf -- The internationally successful Binder+Co AG is on an expansion course. Yesterday, the contracts were signed for the takeover of the Comec mechanical engineering company, which is located near Treviso in northern Italy. Comec is active in the raw material processing area and will complement the Binder+Co portfolio with products for the important crushing process.
Karl Grabner from the Binder+Co Management Board is understandably pleased by this acquisition: “The inclusion in the Binder Group of Comec-Binder S.r.l., to use the company’s future name, illustrates our simultaneous pursuit of two important, strategic objectives. Firstly, the enlargement of our portfolio through in-house products in the crushing technology field and secondly, the expansion of our access to European markets via a new sales network throughout Italy and the entire Mediterranean region.”
Comec, which is located near Treviso in northern Italy, is to be subsequently expanded to form a competence centre for crushing technology. The classic areas of application in this connection consist primarily of the branches served by Binder’s Processing Technology Segment (construction and construction subsupply industries, mining, industrial minerals). However, this processing phase may well prove of interest in another Binder+Co segment, Environmental Technology, for activities such as the recycling of glass and obsolete electrical appliances. Whatever the case, this acquisition allows Binder+Co to immediately offer complete plants of a more comprehensive nature.
With the new location, Binder+Co has simultaneously obtained a strategically important service point for the Italian glass recycling industry, which to date has been served from Gleisdorf. At the same time, the company has obtained greater proximity to major international companies such as Italcementi and the engineering companies Paul Wurth and Maire Tecnimont.
Comec, which was founded in 1964, not only serves its domestic market, but also the entire Mediterranean region. Up to now, the company’s branch focus was on the stone, minerals and cement industry and in addition wastewater treatment plants were supplied to the municipal area.
Comec-Binder S.r.l. sales revenues are to be increased from the EUR 10 million average of the last two years to the EUR 20 million achieved in 2008. Confidentiality has been agreed regarding the purchase price. By means of this acquisition and further expansion measures, Binder+Co has the medium-term objective of raising its consolidated sales revenues from their current level of EUR 63.25 million to over EUR 100 million.
The Binder+Co Group
Binder+Co AG is a specialist in the field of processing, environmental and packaging technology and the world market leader in the screening and glass recycling segments. The company was listed on the Vienna Stock Exchange at the end of 2006 and is now part of the third market in the mid market segment. In 2010, Binder+Co was honoured with the Austrian National Innovation Prize for its development of the world’s first industrially mature system for the sorting of heat-resistant, special glass from cullet.