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Osterwalder AG Activities Aquired by Tessenderlo Group
Tessenderlo Group (Belgium) announced that its business unit Picanol Group has reached an agreement to acquire the activities of Osterwalder AG, a Swiss manufacturer of electric powder presses. With more than 140 years of experience, Osterwalder is a trusted partner for its customers in the fields of hard metals, specialty materials and iron powder. Osterwalder has a production facility in Lyss (Switzerland) and sales and service organizations in the United States, China, and Japan. Osterwalder employs approximately 80 people globally and will continue to operate under its own brand name.
“The acquisition of Osterwalder’s activities strengthens Picanol Group’s portfolio of high-tech machines and advanced solutions for the manufacturing industry. We are delighted to welcome the employees of Osterwalder to our group and we are ready to further develop the company together,” explains Miguel de Potter, CFO of Tessenderlo Group. “We are pleased and proud to be part of a group that shares our values and our strategy. This collaboration will allow us to further expand our product portfolio and strengthen our global services,” comments Rolf Graf, Managing Director of Osterwalder.
The transaction will have no material impact on the Tessenderlo group.
www.tessenderlo.com
www.osterwalder.com