GDS continues aggressive acquisition strategy with second purchase in 2007
Global Display Solutions (GDS) Ltd., market leader in the design and manufacture of industrial display solutions, continues its acquisition strategy with the announcement of its second acquisition of 2007. The Italy headquartered GDS firstly acquired Oregon-based Clearview Displays LLC, providers of bonded display enhancement services in January 2007 and on 20th February 2007 announced the subsequent acquisition of CPG International Spa & Finmek Automation Srl. CPG International is a multi-technology printer company specialising in business and industrial markets.
Based in Caluso (Torino) in Italy, the newly acquired business will become a subsidiary of GDS, to become known as Sferal WorldWide Technology srl. The company retains its staff and headquarters, reporting to GDS's headquarters in Cornedo Vicentino (Vicenza), Italy. GDS's CEO Giovanni Cariolato will also become CEO of the new subsidiary GDS Sferal WWT. Under the terms of the acquisition, the 410 CPG & Finmek Automation staff will transfer into Sferal between February 2007 and February 2009, with 110 employees moving initially during February 2007.
This acquisition fits strategically into GDS's core industrial business. Under the terms of the deal, the GDS group will acquire the assets including the production facilities of CPG's & Finmek Automation businesses. CPG International develops serial matrix, transactional and thermal printers, as well as connectivity solutions. The company markets under its Compuprint brand as well as producing private label products for OEMs. Finmek Automation is devoted to the design and production of Electronical and Mechanical Manufacturing services for its OEM customers, and more specifically it is specialized in the Energy Control equipment (meter) , Alternative Energy solutions (solar panel) and Food Vending Machines.
Giovanni Cariolato, CEO of GDS, comments, "This strategic acquisition will allow GDS to provide existing customers of both GDS and CPG with an improved range of products and a better all round service. We believe that the formation of GDS Sferal will enable us to strengthen our ability to support customers of both businesses."
Massimo Fontana, a key player in the project integrating Sferal WWT into the GDS Group comments, "The formation of GDS Sferal will allow GDS Group to take advantage of additional opportunities in 2007, including a strengthened and more flexible response to the market. Mauro Gardinali joins Sferal WWT as General Manager and Alessandra Cerruti will become HR manager, both reporting to Giovanni Cariolato."