Agreement signed
The asset purchase agreement by Bavelloni of Glaston’s glass pre-processing business in the USA and Canada was signed recently.
This negotiation with Glaston Corporation started last February; the deal will be finalised in mid-May 2017 and the business will be transferred to Bavelloni at that time.
The new Company, Bavelloni America, based in Greensboro, will be wholly owned by Bavelloni. It will employ 10 people, who will take care of machinery and spare parts sales in North America and provide after-sales services through qualified field technicians.
“We believe this operation will greatly contribute toward strengthening our presence on the local market and improve our business growth,” Franco Pirola, partner and sales director of Bavelloni, said.
In the same context, it was also agreed that Glaston will continue to act as official Bavelloni distributor in Mexico, Brazil and Singapore.
Net sales of the USA and Canada pre-processing business were approximately 4.9 million euros in 2016.