voestalpine's subsidiary NEDCON has acquired Torri S.P.A., an Italian specialist in warehouse and racking systems. This move aims to strengthen NEDCON's market position and extend its product and service range in the storage solutions sector.
NEDCON, a subsidiary of voestalpine based in Doetinchem, the Netherlands, has long been a provider of innovative storage solutions. The company recently enhanced its market standing by acquiring Torri S.P.A., a racking and storage expert located in Vicenza, Italy.
Torri S.P.A. brings an annual revenue of around $75 million and a team of 135 employees to the table. With over 50 years in business, the company specializes in the development, production, and assembly of high-quality racking systems and storage platforms tailored for various industrial applications.
Peter Schwab, a member of voestalpine AG's Management Board and the Head of the Metal Forming Division, spoke highly of the acquisition. He said it would not only improve NEDCON's offerings but also bolster the company's position in the Southern European market. The move enables the delivery of complex storage solutions from initial concept to final assembly.
NEDCON itself has a strong presence with about 500 employees and four subsidiaries in Europe and the USA. Their storage systems find use in automated distribution centers belonging to leading online retailers, shipping companies, and supermarkets. Product development is done in-house, and the company boasts a unique test department where systems undergo continuous evaluation.
The Metal Forming Division of voestalpine serves as a hub for multiple high-quality products and employs nearly 11,900 staff members. With a revenue of $3.9 billion and an operating result of $375 million in the business year 2022/23, it is a major player in the industry.
This acquisition is more than just a merger of two companies; it represents the convergence of decades of expertise in materials, processing, and storage solutions. With Torri S.P.A.'s capabilities combined with NEDCON's innovation, the deal promises to set a new standard in the storage solutions industry.
The acquisition of Torri S.P.A. by NEDCON, a voestalpine subsidiary, signifies a strategic move to solidify and expand its market presence. With both companies' strengths and expertise in storage solutions, the acquisition serves as a step forward in offering comprehensive services to a broader range of clients.