13/11/2014

FOMAS S.p.A.

PRESS RELEASE AJAX ACQUISITION

FOMAS Group is pleased to announce, that effective October 10, it acquired Ajax Rolled Ring & Machine, LLC (Ajax) based in York- South Carolina.


 


Under its long term vision & medium term management targets, FOMAS Group has sought to expand its


seamless ring rolling business not only through organic growth but also by actively pursuing


opportunities to acquire companies in the rolled rings industry.


This takeover further strengthens FOMAS Group’s position in the seamless rolled rings market as Ajax’s


capabilities are highly complementary to those of FOMAS Group, with limited product overlap.


The joining of forces with Ajax, will give FOMAS Group a strong presence in the US & through the mutual


sharing of the existing brands and business relationships it will increase the sales opportunities.


The operation is strategically aligned with the FOMAS Group’s objective to provide turnkey solutions,


from forging and ring rolling to a fully finished machined & preassembled part.


This acquisition confirms the Group’s financial soundness and it will not only fortify the Group’s presence


in the US, but it will be a further challenge to grow experience and know-how in new markets.


Statement:


“The acquisition of Ajax is another important step in our journey to excel in the forging industry” said


Jacopo Guzzoni, Vice President & Chief Executive Officer of FOMAS Group.” This transaction will


strengthen our presence in the US, where a local production site will be regarded very positively by our


customers. It will toughen our global presence, reinforcing the fact we are not a local company limited to


a specific area, neither part of an oversized Group. We can be considered as a mid-sized multinational


between smaller and larger firms, with the ability to network both locally and internationally.”