Closing of transition from HUF to Bruschi
On Monday 20th of January the financial transaction of the acquisition of HUF North America Die Cast by Bruschi has been concluded.
The agreement was finalized on the 9th of December and becomes definitively effective starting from today with the transition of all the operations and the activities from HUF North America Die Cast to Bruschi management.
To the current automotive production for HUF Bruschi will add its production for different market sectors, such as building, lighting, electromechanical, electronics, small appliances, white goods and others. This will guarantee a future of work and growth for the facility in Milwaukee and will allow Bruschi to double its production capacity.
As a matter of fact, thanks to the acquisition Bruschi annual turnover will grow from €27 mln to €40 mln per year and the production will increase of roughly 50 mln components per year.
Paolo Rastelli, CEO of Bruschi, on the occasion of signing the agreement stated: “Our company firmly believes in the United States, both in technological and market terms: this is why we have invested and we will keep investing. Our aim is to grow. In order to grow we will need results that, both in the United States and in Italy, we will have to achieve necessarily.”
To discover more about the acquisition read the news Bruschi acquires HUF plant in Milwaukee.