◂ Announcements

Jan 9, 2020ACQUISITIONBergamo, Italy; South Bend, Indiana, USA, Italy

CIE Automotive acquires Somaschini for €79.6 million

CIE Automotive Group acquired Italy-based gears specialist Somaschini, which has nearly 300 employees and three production plants in Italy and the US, for €79.6 million.

Value

$88.0M (79.6M EUR)

Jobs

300

Status

Completed

Productsgears for mobile applications

CompaniesCIE Automotive acquirer Somaschini target

Sectors#Automotive Components #Industrial Machinery

“The value of the transaction amounted to €79.6 million Euros.”powerprogress.com

1 source
powerprogress.comCIE Automotive Acquired Somaschini - Power ProgressRoberta PrandiJan 9, 2020

Summarized from public sources; check the original articles before acting on it.

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