With the acquisition, Nedschroef intends to further develop from a specialist manufacturer of fasteners to a high-end engineering company capable of engaging in the development of early-stage automotive projects working jointly with OEMs, the company said.
Koninklijke Nedschroef Holding B.V. (Nedschroef), one of the world´s largest fasteners manufacturers, has signed an agreement to acquire CP Tech GmbH, a leading component manufacturer and engineering service provider.
CP Tech, established in 2006 and located in BÃ¼ren, Germany, employs 175 experts in advanced engineering offering complete solutions to many of the world´s most prestigious car manufacturers.
Completion of the transaction is subject to the required approvals and merger clearance.
Headquartered in Helmond, Netherlands and with over EUR 629 million of revenues in 2016, Nedschroef is one of the world´s largest suppliers of fasteners and other advanced, engineered cold formed components for the automotive and aviation industry. Nedschroef employs over 2.000 people worldwide and has 25 locations.
CP Tech has a proven track record from 25 years of experience in the design, development, and manufacturing of ultra-strong components and solutions for automotive and motorsport industries globally.