RIMINI, ITALY - SCM Group SpA announced Oct. 20 it has acquired the majority shareholding of Delmac SpA of Thiene, Italy, one of SCM’s major competitors.

Anbrogio Delachi, president of Delmac, and Alfredo Alurelli, managing director of SCM Group, issued a joint statement about the transaction. The statement did not reveal any financial details about the transaction.

According to the statement, "Thanks to this agreement, the SCM Group will considerably strengthen its position as one of the prime leaders of the world's woodworking machinery sector and therefore they will also acquire significant knowledge, both to complete its machinery capabilities in terms of solid wood processing technologies and to further develop some additional panel processing technologies.

"On the other hand, Delmac, by benefiting from the industrial and financial solidity of the SCM Group, will have the resources to further advance its vast technological assets, which over the course of years, has made the company an absolute point of reference in engineering and creating panel processing integrated lines for leading furniture manufacturers."

A follow-up press release noted, 'The U.S. distribution channels of each respective company will remain intact and parts and service for their respective brands will continue without interruption." SCM operates out of Duluth, GA, and Delmac has a U.S. headquarters in Greensboro, NC.

Delmac’s machinery lines include Celaschi, Gabbiani, Busellato, Delmac, SAG and CPC. The company reportedly exports 80% of its products. It employs 350 people and annual sales of more than $60 million.

SCM Group employs more than 3,000 people worldwide and has an annual turnover of more than $660 million in sales.