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© rawpixelimages dreamstime.com Electronics Production | February 22, 2019

Komax expands precense in North America - acquires Artos

The Komax Group further expands its presence in North America with the acquisition of U.S.-based wire processing equipment supplier Artos Engineering.

Artos optimises standard machines with applications that accommodate specific customer needs and has delivered more than 100'000 wire processing machines to customers over its long history. In acquiring Artos Engineering, Komax is expanding its customer base in North America and adding to its expertise in application development, a press release reads. With this acquisition, Komax's focus is continuity: John Olsen, CEO and majority shareholder of Artos Engineering, will continue to head the company after the sale, contributing his expertise to the strengthening of Komax’s position in North America. Komax had already expanded its presence in the region at the end of 2018 through the asset deal with the Application Tooling business unit of TE Connectivity, when TE Connectivity sold the distribution business relating to Komax products in the USA, Canada and Mexico to Komax. “I am delighted that such a long-established company as Artos Engineering is now part of the Komax Group. Our customers will benefit from the strengths of both companies, plus the move will deliver other competitive advantages,” says Matijas Meyer, CEO of the Komax Group, in the release. “We are excited to join the Komax Group and are looking forward to this opportunity to reach additional markets and to develop innovative solutions for our customers,” says John Olsen, CEO of Artos Engineering Company. Artos Engineering, headquartered in Brookfield, Wisconsin, has 50 employees and primarily serves customers in the industrial, automotive, and aerospace market segments.
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April 18 2019 5:19 am V13.0.9-2