10.03.2015

Bonfiglioli acquires Comer wheel drives

Bonfiglioli Riduttori has taken over the electric wheel motor drive and planetary track and wheel drive product lines of Comer Industries. The transaction only includes the Comer products and designs, no physical, financial or human resources are involved.

The deal expands Bonfiglioli’s range of electric and planetary drive motors for wheels and tracks, particularly in the material handling market. It also leaves Comer free to concentrate its resources on its core product lines, which include slew drives for cranes and work platforms, winch/hoist drives and axles for a wide range of machines including telehandlers. The two companies are direct competitors in a number of market sectors.
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Bonfiglioli CEO Sonia Bonfiglioli (L) concludes the deal with Matteo Storchi, managing director of Comer Industries

A joint statement from the two companies said: “This collaboration between two companies that are historic rivals demonstrates that excellent businesses with a long-term vision are able to systematically exploit their every resource through partnerships that develop their own competitiveness in their respective reference markets”.

Comer Industries had revenues of €361 million in 2014 – up six percent on 2013, it recently completed the rebuild of its Reggiolo production facility which was devastated by and earthquake in 2012. The new plant covers more than 20,000 square metres and cost over €12 million.

Bonfiglioli Riduttori reported revenues in 2013 of €614 million its second year of decline, and builds drive mechanisms for mobile equipment, wind power, power transmission and is involved with photovoltaic solar power conversion.

The deal has been backdated to January first.