CHARLOTTE, NC — Biesse S.p.A., which manufactures woodworking machinery, announced its subsidiary Biesse HK Ltd. acquired the Centre Gain Group, based in Hong Kong, for HKD 105 million (EUR 9.6 million).

This acquisition will allow Biesse to expand its North American market of small and mid-range woodworking machinery, the company says.

The Centre Gain Group, which opened in 2004 and does business as Korex Machinery, employs approximately 360 people at a 473,000 square foot plant in Dongguan City, Guangdong Province. Korex will be one of three main manufacturing locations for Biesse, along with its facilities in India and Italy.

Chris Kwong, a founding shareholder of the Centre Gain Group, was named Korex CEO, and Biesse America is currently searching for a business manager to oversee the new division. Additional plans include the launch of a new Korex website. Also, demonstration machines will soon be available for customers to view at Biesse America’s Charlotte, NC, showroom.

 

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