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Weiler Corporation Acquires SWATYCOMET from Avtotehna

Weiler Corporation Acquires SWATYCOMET from Avtotehna

CRESCO, Pa. & MARIBOR, Slovenia--(BUSINESS WIRE)--Dec 23, 2015--Weiler Corporation, a leading provider of power brushes, abrasives and maintenance products for surface conditioning, announced today the acquisition of SWATYCOMET d.o.o. (SWATYCOMET), one of Europe's leading manufacturers of bonded abrasives. Terms of the transaction were not disclosed.

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The acquisition of SWATYCOMET substantially expands Weiler's global reach into the bonded abrasives segment. It will enable Weiler to offer a comprehensive solution to the welding, metalworking and general industrial markets. Through the transaction, Weiler adds a broad range of cut-off and grinding wheels and technical fabrics to serve industrial markets.

SWATYCOMET, headquartered in Maribor, Slovenia, dates back to 1879 and has a long tradition of providing high quality abrasive products. Its products are distinguished by safety, high durability and cost efficiencies that provide customers productivity and lower operating costs. Additionally, SWATYCOMET has made recent significant investments in customer-driven innovations that will expand the share of SWATYCOMET products for the most demanding grinding and cutting applications.

"With this acquisition, we are joining two great companies and brands, both of us with proud histories that are now coming together to offer increased value to our customers around the world. It has been a pleasure to get to know some of the members of the SWATYCOMET team during the sale process and I am excited to have them join the Weiler team. The complementary nature of our products, geographies and company cultures makes this a great fit. Additionally, Weiler customers will see immediate benefit as we expand our Tiger TM brand into the bonded abrasive category," said Chris Weiler, CEO, Weiler Corporation.

Matja? Merkan, CEO of SWATYCOMET, commented, "SWATYCOMET is excited about joining the Weiler team. The partnership will provide us with broader access to the large U.S. abrasive market and position SWATYCOMET for continued growth. Our companies share common values and ambitions for market leadership. We are both driven to provide high quality, innovative solutions and excellent customer service."

Additional information on the transaction can be found here.

About SWATYCOMET

SWATYCOMET is a leading manufacturer of bonded abrasives and technical fabrics. The group works closely with customers to deliver innovative products distinguished by safety, durability, and cost efficiency. SWATYCOMET has revenues of ca. EUR 87 million and employs a staff of around 900 workers.

SWATYCOMET, d.o.o., Titova cesta 60, 2000 Maribor, Slovenia | +386 2 333 16 00 |www.swatycomet.com

About Weiler Corporation

As an industry leader and global manufacturer of surface conditioning solutions for the Welding & Fabrication, Industrial Production, and Maintenance, Repair & Operations markets, Weiler Corporation is dedicated to forging collaborative relationships with our customers to tackle their toughest cleaning, grinding, cutting, deburring, and finishing challenges.

Weiler Corporation, One Weiler Dr., Cresco, PA, 18326-0149 | (800) 835-9999 |www.weilercorp.com

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CONTACT: Weiler Corporation

Kim Pfannebecker, 515-557-2087

kimp@2rm.com

or

SWATYCOMET

Nina Borstner, +386 31 601 614

dialog@dialog-si.net

KEYWORD: UNITED STATES EUROPE ASIA PACIFIC NORTH AMERICA CANADA PENNSYLVANIA

INDUSTRY KEYWORD: MANUFACTURING AEROSPACE AUTOMOTIVE MANUFACTURING CHEMICALS/PLASTICS ENGINEERING PACKAGING STEEL TEXTILES OTHER MANUFACTURING CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE OTHER CONSTRUCTION & PROPERTY

SOURCE: Weiler Corporation

Copyright Business Wire 2015

PUB: 12/23/2015 11:00 AM/DISC: 12/23/2015 10:59 AM

http://www.businesswire.com/news/home/20151223005444/en


Updated : 2021-01-27 08:25 GMT+08:00