25 March 2010
COMET and SWATY will henceforth operate as SWATYCOMET
Maribor and Zreče, 5 March – The managements of COMET and SWATY, and the management of the owner of both of these companies, Avtotehna, signed a merger document today in order to finally unite the business paths of the two former competitors within the Slovene grinding industry. The merger of the two companies was made possible by ownership consolidation and it was accelerated by the harsher economic situation which required proactive measures. COMET and SWATY will appear on the market together as of April 2010, when the merger procedure is planned to be officially completed and all conditions for the operation of the new company under the name of SWATYCOMET will be fulfilled. The place of business of the merged company will be located in Maribor, and its management will be taken over by Mr. Aleš Mikeln, the former Managing Director of both companies.
By signing the merger document, the COMET and SWATY companies have paved the way for the final act in the difficult and time-consuming merger process, which has been intensely underway since September last year, while the preparations for and ideas about the merger date further back in history. Throughout their existence, COMET and SWATY competed with large global manufacturers of grinding products, and they both exported about 80% of their manufacture. Their final merger means that all conditions have been fulfilled for achieving new synergy effects and assuring their further development in many global markets via well-established, specialised manufacture of high-quality Slovenian grinding products. The managements of the two companies and their owners expect further successful growth and greater long-term stability within the merged company, as well as increased safety for their employees.
This merger will bring about the optimisation of all business processes, which is a prerequisite for facing the difficult market situation that has become even more strained due to the global economic crisis. With its new product range intended for broad consumption, SWATYCOMET will become one of the three most important and largest manufacturers of such products in Europe, while with its industrial product range, in which emphasis will be primarily on intense development of new products with high added value, the two merged companies will focus above all on searching for market niches and specific target groups. Through the manufacture of technical fabrics, which represents one of its main competitive advantages, SWATYCOMET also has good chances of retaining its place among the largest manufacturers of products for the grinding industry, and with its forthcoming product ranges it may well penetrate some other branches of industry. |
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25 March 2010
COMET and SWATY will henceforth operate as SWATYCOMET
15 January 2010
Hardware Fair Cologne and GrindTec Fair Augsburg
7 January 2010
COMET and SWATY to merge in the first half of 2010
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