TRUMPF (Ditzingen, Germany), a leading high-tech company offering machine tools and solutions across several industries, announced it has signed an agreement to acquire Mate Precision Technologies (Anoka, MN), a global leader in metal cutting and forming products and solutions.
Mate will continue to operate independently in the market under its existing brand, with its management and international teams remaining in place. Current Mate Precision Technologies President Joe Schneider, a 32-year veteran of the company, will continue to lead the business as president & CEO.
The deal strengthens TRUMPF’s market position in the United States, Canada and Mexico, and TRUMPF’s extensive global footprint opens new opportunities for Mate. Producing products where the customers need it enhances supply-chain strength, supports greater regional production and delivery, and complements Mate’s U.S. production footprint, serving customers throughout North America.
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.
Products, services, contracts and points of contact are expected to remain the same for Mate’s customers, employees, suppliers and partners. Mate’s tooling will continue to support a broad range of machine brands, while the combined tooling business creates new opportunities to serve sheet metal fabricators through TRUMPF’s broader international reach and existing tooling operations.
More information: https://www.mate.com/news/trumpf-enters-strategic-partnership-with-mate-precision-technologies/