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On December 18, 2019, Tekfor Global Holdings Ltd. and Mutares SE & Co. KGaA have signed an agreement regarding the sale of Tekfor S.p.A., the Italian subsidiary of Tekfor Group. Tekfor S.p.A. is operating two sites, one in Villar Perosa and one in Avigliana with a total of 672 employees and 120 mEUR of annual revenue in 2018. Closing of this transaction is expected in early 2020.
Mutares SE & Co. KGaA is a stock-listed company with a large portfolio of European manufacturing companies, focussing on growth in the area of automotive and mobility amongst other businesses.
„Through this transaction Tekfor is consolidating its manufacturing footprint and sharpening its technological focus. Mutares is truly the best owner for our Italian business and will offer future growth perspectives”, states Johann Ecker, CEO of the Tekfor Group.
In the interest of all stakeholders, both parties are committed to enable a smooth Transition.