Andritz is strengthening its paper machine service portfolio with the acquistion of Italy's blades manufacturer and service provider Bonetti Group. The transaction was completed on 30 June.
Milan-based Bonetti runs five production facilties in Italy, Germany, Canada and the US, and produces doctor, creping and coater blades, and blade holders for tissue and paper machines. The company also offers supervision, installation and maintenance services.
The acquisition fits in perfectly with Andritz's long-term strategy to acquire complementary businesses and expand its aftermarket business with its stable source of sales and earnings, Austria's technology group announced. Bonetti Group has a staff of 150 and reaches sales of approximately €25m, according to Andritz.