It has been announced that Troax, the world-leading manufacturer of mesh panels and machine-guarding systems has merged with Satech Safety of Italy. Both companies manufacture and sell safety equipment for industrial applications, particularly mesh machine-guarding to separate and protect people from machinery.
?The strength of our new partnership will arise from the development of new products and new markets,? explains CEO of Troax, Thomas Widstrand.
?In Europe, we will continue to operate individually, keeping our respective production, sales, and product ranges separate and maintaining our own individual brands, so our customers can be confident that they will continue to receive the same service from the same seller as before.?
Strong player with two brands
Troax AB is the global market leader of metal mesh safety walls for industrial applications, warehouses, and storage areas. Satech Safety Technology Spa maintains a similar product line with a clear focus on industrial machine-guarding; Satech is the market leader for this segment in Italy and a strong player in southern Europe.
?Satech has had considerable market expansion in recent years and is a major player in southern Europe. They have a good range that differs slightly to that of Troax, however I feel that our ranges and companies complement one another, and together we will be stronger,? explains Thomas Widstrand.
Satech and Troax employ 40 and 340 people respectively. This merger will not affect staff numbers as production will remain in Italy and Sweden. Production in Sweden will be expanded by SEK 50 million by 2016, which is expected to create the need for more staff over time.
More creative joint owners
The Nordic private equity company FSN is the principal shareholder in Troax, and as part of the merger Satech?s owners will be paid in part with Troax shares. ?In this way, Satech?s owners retain a vested interest in the overall success of the company. More joint shareholders with direct interest in the business makes us stronger,? Thomas Widstrand says.
?Satech has been built by entrepreneurs with strong family ties, just like Troax was once upon a time. New markets require an entrepreneurial spirit to find creative solutions for new demands.?
For questions regarding this merger, please contact Thomas Widstrand, President and CEO of Troax Group AB, tel.: +46 (0)705 47 18 10 or e-mail [email protected]
For pictures and press material, please e-mail [email protected]
TROAX is currently represented in 31 countries, with sales companies in 20 of these and production facilities in Sweden, the UK, Italy, and China.
For the construction and real-estate markets, we manufacture and supply apartment storage facilities and lockable garages. Products manufactured for industrial applications include machine safety systems, storage and warehouse partition wall systems, mesh shelving and collapse protection for pallet racks.
In total, we have 340 employees and a turnover of around EUR 74 million