Mutares sells FTW

Mutares AG (ISIN: DE000A0SMSH2) has sold Fertigungstechnik Weisenfels GmbH to a German Family Office. The company is to be developed strategically within the new organization.

Fertigungstechnik Weissenfels (FTW) develops, manufactures and distributes highly accurate and dynamic NC rotary table systems and special devices for the machine tool industry. It employs about 100 people at its site in Weissenfels near Leipzig. FTW offers end-to-end solutions tailored to customers’ specifications, which can be integrated optimally in their machines. These customers include leading European machine tool manufacturers. The company was acquired in February 2010 from the German Römheld Group.

Mutares has sold FTW to the Family Office of the Family Klement. The portfolio of the entrepreneurial family consists of several companies in the mechanical engineering industry with more than 400 employees and a global customer base. The Family Office follows a vertical integration strategy and acquires with FTW an ideal company to strengthen its position in the market for machine tool components. FTW is to be developed strategically within the new organization.