Jul 23rd 2018 – Techni Waterjet is Proud to announce that, after 28 years of independent ownership, a majority share of the company has been acquired by Gmm SPA.
Headquartered in Melbourne, Australia, with locations in Asia and USA, Techni manufacturers water jet cutting solutions for the metal, glass and stone industries as well as high pressure pumps for various other sectors.
Co-Founder and Managing Director Darren Reukers speaking from Techni Waterjets US Head Quarters in Kansas said
“We are excited for what this move will bring to both our Techni clients around the world and also for the opportunities that this will present to the Techni employees. By joining with such a reputable company, with a well-known service orientated brand, both existing and future Techni clients will still be able to enjoy the Techni experience but know they have that large organization behind them all the way”
Gmm celebrates 25 years in business this year – with multiple locations across Northern Italy, through Asia and in North America, Gmm has over time become a truly global supplier of cutting solutions for its stone industry clients.
“This acquisition strengthens our competitive position as a global leader in the cutting machinery market for stone materials, thanks to the unique, innovative and high value-added Waterjet machines developed by TWJ. With this acquisition, we are approaching the targets of €60 & €100 million of consolidated revenues by 2018 & 2020 respectively»
explains Corrado Franzi, founder and CEO of the GMM group.
The Techni Waterjet products will continue to be presented in the metal and glass industries as Techni Waterjet branded machines while being presented in the stone industry as Gmm products.