OEM International has signed an agreement to acquire a majority stake in Weingrill Srl, located in Pinerolo, Italy. Weingrill develops and manufactures screw-jacks as well as components such as cleaning systems, stretchers, and guides for the paper industry. The company employs 32 people and has annual sales of EUR 7.7 million, with more than half generated outside Italy. OEM also holds an option to acquire the remaining shares.
“Weingrill, operating since 1952, is recognized for its innovative design, cost-efficient manufacturing, and high product quality, all rooted in a deep understanding of customer-specific requirements. This acquisition marks OEM’s entry into Italy and the paper industry, broadening our market footprint and creating opportunities for further business development,” says Jörgen Zahlin, CEO and Group President of OEM International.
“With OEM International, we gain a long-term, stable, and financially strong owner. We look forward to continuing the company’s development together with our new owners and to becoming part of a larger industrial group,” says Alberto Brivio, CEO, former majority owner, and continuing shareholder of Weingrill.
Closing is scheduled for 18 March. The acquisition is expected to have a slightly positive impact on OEM’s earnings for the current year.
OEM International AB (publ)