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NEWS RELEASE Elomatic gains majority share in engineering company CadmartechOn November 4th Elomatic gained a 51% majority share in Cadmartech Ltd, a strongly growing Gdansk-based engineering company in Poland. Elomatic’s presence in Poland increases the capacity of the Elomatic network and enables it to take on larger projects. It has also increased the scope of Elomatic commissions in the shipbuilding industry as there is special expertise in Poland outside the traditional Elomatic strongholds of cruise and passenger ships. Elomatic and Cadmartech have been cooperating closely for several years on a wide range of shipbuilding and plant engineering projects. Elomatic bought its first shares of the company in 2006 and in June 2007 the share was increased to 30%. The remaining 49% of the company is owned by Mr Piotr Bilon, the founder and managing director of Cadmartech Ltd. On Decemer 6tth the company will begin operating under the Elomatic name, Elomatic sp. z o.o. Acquiring the majority share is part of Elomatic’s internationalization strategy. The acquisition enables the companies to deepen their partnership and start using the same way of working. A major joint development program will be started immediately to further strengthen Elomatic’s capabilities to provide world-class services to the shipbuilding industry. The Polish market also has one of the highest growth potentials for Elomatic’s other industry areas. |
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