With the acquisition of Mate Precision, Trumpf bolsters its sheet metal tooling product lineup
As a leading high-tech enterprise in the field of industrial lasers and manufacturing systems, Trumpf's business covers sheet metal processing machines, laser technology, and semiconductor industry solutions. The company has officially acquired Mate Precision Technologies, headquartered in Anoka, Minnesota, a manufacturer specializing in metal cutting and forming products and solutions. After the acquisition is completed, Mate will continue to operate independently under its existing brand, with its management team and international team remaining unchanged.
Mate’s Customer Solution Center in Anoka, Minnesota.
Terms of the deal were not disclosed.
The addition of Mate will expand Trumpf’s punching and bending tool portfolio to support customers using a broad range of machines, subsequently including those from other manufacturers. The partnership is expected to strengthen Trumpf’s market position in North America. Its global footprint can open new opportunities for Mate.
“Mate’s strengths and leadership are a valuable addition to the Trumpf team,” said Lutz Labisch, President and CEO of Trumpf Inc. “Mate manufactures tooling for nearly every major machine brand worldwide and shares our dedication to the success of machine tool customers.”
For Trumpf, the acquisition builds on more than five decades of manufacturing in the United States and deepens its commitment to keeping production close to its customers. Mate’s Minnesota operations complement Trumpf’s local production facilities in Farmington, Connecticut, where the company has been manufacturing products for more than 50 years.
Trumpf Global Managing Director Till Küppers commented, “Two family-owned companies with a long history of strong values and a shared commitment to quality are coming together. Mate’s customers will keep the brand, products and people they trust but will now have a strong global partner behind them.”
Tooling expertise
For sheet metal fabricators, the acquisition is expected to provide greater access to tooling expertise, application support, and solutions for a wide range of production environments. Customers will benefit from the added reach and resources of a global manufacturing technology company while maintaining continuity in how they are supported.
Former Mate Chairman Dean Sundquist commented, “Joining Trumpf secures that legacy and opens the door to substantial growth through its global customer base and sales network, while preserving the brand, team and independence in the market that our customers know and trust.”
Current Mate Precision Technologies President Joe Schneider, a 32-year veteran of the company, will continue to lead the business as president & CEO. Schneider said, “The Mate story continues, we’re just beginning a new chapter. To the team that built this company: the work we do and the culture we have created are exactly what Trumpf values and that remains the same.”
source: optics.org
