As announced by the Tornos Group in May, the executive board and board of directors have been examining a merger with the Starrag Group over the past few months. Based on the positive results of the review and negotiations, the two boards of directors recently signed a merger agreement. The boards of directors of Starrag Group Holding Ltd and Tornos Holding Ltd are now asking their respective shareholders to approve this merger agreement.

The two groups of companies and their offerings complement each other, and a merger to form the StarragTornos Group would further strengthen room for manoeuvre as a manufacturer of precision machine tools. Tornos says it is convinced that if the planned merger gains approval by the two general assemblies, it will be able to offer customers even better technology solutions, products and services.

Bundled resources and combined technical know-how will significantly strengthen the new company’s innovative power, further developing existing technologies and driving forward new solutions. Furthermore, by increasing geographical presence, the merged company will make its performance and expanded range of services available globally on an even more personal, better and faster level.

The Tornos brand of Swiss-type sliding-head lathes and the brands of the Starrag Group have a long tradition. They are rooted in Switzerland and enjoy a high level of customer trustworldwide. That is why the companies want to keep them unchanged, even after the planned merger. The existing production sites of Tornos and Starrag are also to continue, withno job cuts planned as a result of the proposed merger. It goes without saying that familiar contacts at the Tornos Group will also remain the same.
For further information www.tornos.com