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#Industry News

Lifting system merger as Piab acquires Tawi

Vacuum lifting equipment manufacturer Piab Group has entered into an agreement to acquire Tawi Group, a manufacturer of smart lifting systems.

The two companies are both headquartered in Sweden and operate globally. Piab said that through the acquisition of Tawi, which has been in operation for more than 30 years and had expected sales for 2019 of SEK340m ($36m), the company is taking a world-leading position in semi-automated lifting products.

Clas Gunneberg, CEO Piab Group, said: “Tawi has a perfect strategic fit to our business. The market for smart and ergonomic lifting solutions is growing rapidly thanks to manual lifting processes being automated. We foresee very strong growth opportunities with the addition of Tawi’s competitive product portfolio and highly skilled employees, whom I would like to take the opportunity to welcome to the Piab Group.”

Thomas Bräutigam, CEO of Tawi Group said: “Piab´s long history of innovation in vacuum technology and global market access will allow for Tawi to further strengthen its offer to customers in need of smart and ergonomic lifting solutions. By joining the Piab Group, Tawi joins an excellent global company, a leading innovator in the vacuum technology market and together we will strengthen our leading position in the semi-automatic lifting market.”

And David Collins, VP Ergonomic Handling division of Piab Group said: “Increasing well-being is an ever-growing priority for employers around the world. The acquisition of Tawi allows Piab to offer even more solutions to create an effective and safe working environment.”

Details

  • Täby, Sweden
  • Piab Group