Manitou aquisitions to support Italy production
10 November 2023
Manitou Group is set to acquire 75% of two companies specialising in welded parts and laser cutting, Come and Metal Work, to support its Italia plant.
Mechanically welded parts supplier Come is a long-standing partner of Manitou Group, with 280 employees and a revenue of €46 million in 2022. Based in Emilia Romagna, Italy, the company brings decades of knowhow to France-based Manitou.
Based in Forli, near to Come, Metal Work has 70 employees amd posted sales of €31 million in 2022. The company has extensive expertise in cutting and bending high-strength steel sheets.
Both companies will continue to serve all their existing customers, said Manitou, adding, that the investments would support the group’s growth by integrating two upstream assembly stages for machines produced at its plant in Castelfranco, Emilia Romagna. “This move positions the production of high-capacity chassis, turntables and booms among the Group’s core businesses. These majority shareholdings will be finalized in early 2024.”
Marco Iotti, managing director of Manitou Italia, explained, “We’re proud of these alliances with Come and Metal Work, with whom we’ve already been working for over 20 years. We share the same sense of innovation, quality and industrial excellence. These acquisitions enable us to benefit from two key areas of expertise in the manufacture of our products, and to optimise our supply chain. We will of course continue to work and develop cooperation with all our suppliers, which is necessary to absorb the very high demand for our products.”
Fabio Grilli, President of Come and shareholder of Metal Work, added, “Joining Manitou Group is a great honour for our companies. We have long shared the key values of customer focus and quality. This merger will take us to new levels in our development.