Fair Friend Acquires Five Overseas Machine-Tool Firms

Taipei, Jan. 20, 2012 (CENS)--Fair Friend Group, a leading numerically controlled machine tool maker, has successfully acquired five overseas machine-tool firms recently, including three Italian firms, one Korean firm, and one Japanese firm, which will bring the group extra NT$10 billion of revenue a year, said Chu Chih-yang, chairman of the group, yesterday (Jan. 19).

Fair Friend Group boasted NT$55 billion of consolidated revenue last year, including NT$34.8 billion from machine tool business, up 64%. Chu predicted that revenue from machine tool business will surpass NT$45 billion this year, one major step further towards of the goal of NT$100 billion in 2018.

The five overseas machine tools put under the fold of Fair Friend are three Italian firms, JOBS, SACHMAN, SIGMA, Korea's DMC, and one Japanese lathe firm with over one hundred years of history. The total acquisition cost is estimated at over NT$5 billion.

JOBS is a leading aeronautics processing equipment manufacturer, producing gantry machining center and boring machine. SACHMAN turns out boring machines, while SIGMA produces five-axis vertical processing machine and is also a manufacturer of aeronautics industrial machinery. DMC is Korea's sixth machine-tool manufacturer, turning out vertical and horizontal machining center, lathe, and whole-plant equipment for auto production.

The acquisition of the three Italian firms can help Fair Friend extend its reach to the fields of aeronautics, auto, power generation, track, and shipbuilding.

Fair Friend now boasts 28 subsidiaries and 19 brands and has established 31 production bases in the world's eight largest machine-tool markets.