3/15/2009
CELO Acquires MEA’s Fastener Business
Barcelona-based CELO Group acquired the fastening systems business of MEA Befestigungssysteme of Aichach, Germany.
The fastenings business was the smallest division in the MEA Group with Euro10 million (US$12.9m) turnover and 40 employees.
Celo sales are approximately EUR 30 million (US$38.8m).
MEA says it could not achieve the critical size to become a sustainable and profitable business in a market dominated by larger players. MEA will focus on its core activities, which include windows, drainage systems, gratings and door fittings.
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