06 Sep CMG GROUP Acquisition Announcement
Agrati Group is pleased to announce the acquisition of Continental Midland Group (CMG), a leading North American engineered fastener company in the automotive, commercial vehicle and Industrial markets with 4 production plants focused on screws, bolts, nuts and special cold forged parts, and one logistic center. Plants and logistic centers are located in the States of Illinois, Ohio and Indiana. The Sales and Applications Engineering Center is located in Southfield Michigan.
Agrati Group is continuing the process of international growth, expanding its industrial, commercial and technical presence in the North American market, in line with the globalization strategy. The goal is to intensify the presence of Agrati in the key market segments globally.
CMG will contribute providing to customers an even greater level of service and technical support through a wide products variety, in line with the main Agrati Group targets: globalization, technical leadership and full supply chain provider.
The CMG acquisition will enable Agrati to increase their current business and develop stronger relationships with both customers and suppliers, becoming one of the largest fastener manufacturers in the world.
The Agrati family confirms a strong commitment to strengthen the sustainable development of the Group, ensuring the principles of competitiveness and innovation.
After this acquisition, the Agrati Group expects will reach a consolidated turnover of over 640 million Euros ($700 million USD), with 12 manufacturing plants, 5 logistic centers and 2.500 employees.