Comer Industries strengthens further with Japan's Nabtesco Corporation
Comer Industries announces a new milestone in its growth path with a binding agreement for the acquisition of 70% of the Hydraulic Equipment unit of Nabtesco Corporation, a leading Japanese global engineering conglomerate listed on the Tokyo Stock Exchange.
With a global turnover of around €272 million pro-forma and around 800 employees, the Hydraulic Equipment division is strong with a small and large product portfolio that includes motors, control valves, piston pumps and other components for a wide range of applications in construction, agriculture, mining, road, marine and special vehicles.
The transaction has an important industrial rationale: after achieving a leading position in mechanical and electrical technologies, the Group strengthens its fully proprietary hydraulic technology portfolio by further expanding its international presence with four new production facilities in Japan, China and Thailand.
The acquisition – a unicum in the international industrial scenario and the result of the encounter between two very different cultures – strengthens Comer Industries’ position as an increasingly strong, international and technologically avant-garde global mechanical engineering leader.
The investment is once again the result of a long-term vision and the firm will of shareholders and management not to interrupt, even in a challenging international context, investments capable of providing lasting value for the Group, resources, customers and all stakeholders.
The Group closed the first half of the year with revenue at EUR 447.2 million (-15.8% y/y) and EBITDA at EUR 71.8 million (vs. EUR 90.2 million as at 30 June 2024). The numbers still reflect the overall market trend, which is suffering from a decline in demand in the agricultural sector. However, in this context our company once again stands out in terms of increasing market shares and better economic ratios than in the first quarter. We maintain a solid, long-term outlook and continue to invest according to a clear growth strategy.