12/22/2015 1:32:00 PM
NEWS BRIEFS
National Machinery Acquires
Interest In Italy’s SMART
National Machinery LLC announced it has taken a controlling interest in SMART Machinery Srl. – a new company succeeding S.M.A.R.T. of Italy.
SMART Machinery was formed to assume the business interests and assets of S.M.A.R.T Srl, the Tortona, Italy-based company that is a thread roller machine manufacturer and pioneer in using servo drive technology.
Founded in 2001, SMART’s thread roller machinery was developed to replace mechanical drives by high-precision, low-maintenance servo drives for the fastener industry. It also manufactures planetary machines, washer assembly units and pointing machines used in many countries.
National Machinery CEO Andrew Kalnow and SMART president Enrico Ghezzi signed a framework agreement in Milan, which specifies ownership of the new company at 88% for National and 12% for Ghezzi. SMART Machinery Srl will acquire the assets and business interests of S.M.A.R.T. Srl, based upon certain conditions. National Machinery will become the global master sales and service agent for SMART, and use sub-agents as well as company personnel.
SMART Machinery Srl will co-exhibit with National Machinery at the April 4-8, 2016, Düsseldorf WIRE.
Founded in 1874 in Cleveland, National Machinery is headquartered at 161 Greenfield St., Tiffin, OH 44883-2471. Tel: 419 447-5211 Web: NationalMachinery.com
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