Acquisition of Fastening Solutions Division
of Forind Avio Elettronica S.p.a. completed
February 23, 2015
The Bossard Group has completed the acquisition of the fastening solutions division of Forind Avio Elettronica S.p.a., announced on January 12, 2015. The acquisition, which will be fully implemented with effect as of February 23, consolidates Bossard's position in the Italian market. The acquired division generates an annual turnover of approximately CHF 5 million and employs 10 people. The parties have agreed to keep the acquisition price confidential.
Forind Avio Elettronica S.p.a. is well-established in Italy as a supplier of high-quality fastening and electronics solutions for internationally recognized brands. After its inception in 1968, the company, domiciled in Cassina de' Pecchi near Milan, became primarily known as a supplier to the challenging aerospace industry. Thanks to its expertise in terms of reliability, precision and efficiency, the company was able to also gain a foothold in other sectors of the economy. Today, it concentrates on various industries, in particular the medical field, telecommunications and electronics sectors, as well as other industries. Forind Avio Elettronica S.p.a. has the technical expertise to assist the customer with complex fastening solutions from design to project execution.
With this acquisition, the Bossard Group will consolidate its market position in the Italian market. For some time, the Group has been maintaining a subsidiary in Italy, in Legnano near Milan, which employs more than 20 people.