Date: 10 January 2003
Commenting on the move, Verhaus said: With the help of Bystronic's global distribution network Armatec will be able to expand its own international market presence. The Company, founded in 1983, has 40 employees, and its 2001 sales were approximately $7 million.
Laminated safety glass is an expanding market, driven by higher safety requirements and the relevant safety regulations, as well as a trend towards the diversified use of glass in modern architecture. It is for this reason that Bystronic CEO Rolf Honegger believes there will be no job cuts: On the contrary; for us the acquisition of a company as renowned as Armatec is an important step towards market leadership. With Armatec's top-quality products we can now offer not only comprehensive concepts for insulating glass but also complete solutions for laminated safety glass," he said.
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