|A worker drapes a cloth over a machine at
Balestrini's booth as the second day of Ligna
came to a close. Hours earlier, CMS, a division
of SCM Group, purchased the company.
HANNOVER, GERMANY --
CMS Industries, a division of SCM Group SpA, has purchased Balestrini Srl, a manufacturer of solid wood processing machinery.
Alfredo Aureli, managing director of SCM Group, announced at the end of a press tour of SCM booths at Ligna Hannover Tuesday afternoon that the deal had been finalized earlier that afternoon. SCM owns a 51 pecent controlling interest of CMS, which manufactures CNC machining centers and routers. Aureli said Balestrini would be operated through CMS.
Terms of the transaction were not disclosed.
Balestrini has been sold and suerviced in the United States for more than two decades by Solid Wood Systems Inc. of High Point, NC. Balestrini's product line includes five-axis CNC machining centers for the manufacture of windows, doors, chairs, musical instruments and more.
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