The alliance creates a global player for drive trains and transmissions in the agriculture sector.
(Photo: Imago Images / Ebner Europe)
Rome Earlier the big fish used to swallow the small fish. “Today the fasting swallows up the big guys.” Matteo Storchi seems satisfied with himself. Hours before the interview with Handelsblatt, he was able to announce the biggest deal in the company’s 51-year history: Comer Industries, managed by Storchi in the second generation, is acquiring Walterscheid Powertrain Group (WPG) from Lohmar. Cologne, which is huge in terms of employees. Italy buys into Germany, Reggio Emilia north of the boot strike in North Rhine-Westphalia.
The deal Storchi has struck over the past six months has created one of the world’s largest mechanical engineering conglomerates for agriculture. The total turnover of the two companies is €792 million, the adjusted profit (Ebitda) of both companies is €86.5 million.
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