Italy's Agrati buys fastener-maker CMG

Italy's Agrati buys fastener-maker CMG

Purchase expands Agrati's North American business, automotive screw and bolt lines.

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September 21, 2016

Southfield, Michigan – Italy’s the Agrati Group has purchased Continental Midland Group (CMG), a North American engineered fastener company in the automotive, commercial vehicle, and industrial markets with four production plants focused on screws, bolts, nuts, and special cold-forged parts, and one logistic center.

Plants and logistic centers are located in Illinois, Ohio, and Indiana. The sales and applications engineering center is in Southfield.

Agrati Group is continuing the process of international growth, expanding its industrial, commercial, and technical presence in the North American market, in line with the globalization strategy. The goal is to intensify the presence of Agrati in the key market segments globally.

CMG will provide customers more service and technical support through a wide products variety, in line with the main Agrati Group targets: globalization, technical leadership, and full supply chain provider.

The CMG acquisition will enable Agrati to increase their current business and develop stronger relationships with both customers and suppliers, becoming one of the largest fastener manufacturers in the world.

After this acquisition, the Agrati Group expects will reach a consolidated turnover of more than $700 million, with 12 manufacturing plants, five logistic centers, and 2,500 employees.

Source: Agrati Group