(Boursier.com) — Manitou rises 0.7% to 20.35 euros this Thursday after announcing an agreement on the acquisition of a 75% stake in the capital of the Italian companies COME, specialized in the production of mechanically welded parts, and Metal Work, specialized in the laser cutting. Manitou specifies that these investments will make it possible to support its growth by integrating two upstream stages of the assembly of machines produced in the Manitou Group factory in Castelfranco (Emilia Romagna, Italy). This operation positions the production of high-capacity chassis, turrets and booms within the group’s key activities. These majority stakes will be finalized in early 2024.
A historic partner of Manitou Group, the COME company (280 employees and 46 million turnover in 2022) has recognized know-how and industrial equipment in the manufacture of mechanically welded parts. Based near COME, the Metal Work company (70 employees and 31 million turnover in 2022) has great expertise in cutting and bending very high-strength steel sheets. The two companies will continue to serve all of their historic customers…
Portzamparc underlines that the group is continuing to integrate part of the upstream value chain, but above all wishes to better control flows after two difficult exercises on the production lines… Enough to remain ‘strengthened’ by aiming for a course of 29 euros.
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