German glass engineering group
Sorg has acquired Techglass of Poland.
The two glass furnaces suppliers signed a deal in late December for the acquisition.
The deal is set to be approved by the end of the first quarter of 2024, subject to regulatory conditions.
The acquisition will enable Sorg to develop the Polish market and build on its European positioning.
Alexander and Michael Sorg, Managing Partners, said: “By combining the complementary competencies and sales channels of Sorg and Techglass, we are strengthening our position as the leading European manufacturer of glass furnaces.
“This means we are ideally placed to overcome existing and future challenges as we successfully meet the demands of our customers.”
Andrzej Skowiniak, Managing Director of Techglass, will remain in his current role to help ensure a seamless transition process: “This acquisition the Sorg Group not only validates the hard work and dedication of our team, but also secures a promising future for our company.
"We look forward to achieving new milestones together.”
Techglass is a glass plant manufacturer, particularly active in the construction of glass furnaces, forehearths, batch plants and related services.
Founded in 1990, the traditional family business employs more than 120 people across two sites in Krakow and Warsaw.