Modig And Ibarmia Enter Into Partnership To Strengthen Their Market Position
Modig And Ibarmia, Two Historic European Family-Owned Machine Tool Companies, Join Forces To Address Markets And Innovation Together
ODIG, a leading manufacturer of machining solutions for high productivity and automation applications, and IBARMIA, a leading manufacturer of customized and flexible machining centres, announced the signature of an strategic partnership. In support of the alliance, MODIG will take a substantial minority stake in the capital of IBARMIA.
This strategic partnership aims to bolster both companies' geographical and sectoral presence, fostering new growth opportunities and synergies for both. The parties will also explore synergies in manufacturing.
"MODIG and IBARMIA share a passion for innovation and excellence in manufacturing. We're excited to combine our strengths and expertise, delivering even greater value to our customers.", said David Modig, President & CEO at MODIG.
"IBARMIA is excited to partner with MODIG, an innovative leader in advanced manufacturing solutions. This alliance will fuel IBARMIA's growth, expand our capabilities, and accelerate the development of cutting-edge machining solutions for our global customers”, said Koldo ARANDIA, President & CEO at IBARMIA.
Source: IBARMIA