Sia Abrasives joins in Bosch Group

On 2nd October last, sia Abrasives, Frauenfeld (Switzerland), Bosch Stuttgart (Germany) and Bosch Power Tools (Switzerland), informed about the acquisition by Bosch Group of nearly 40 percent of the shares in sia Abrasives Holding. Bosch also intends to make a public offer to all the other shareholders of sia Abrasives Holding Ag. The sia Abrasives board of directors unanimously endorses the public offer by Bosch. Following to the closing of the public offer, Bosch will decide on the new composition of the board of directors.
With this acquisition, the Bosch Power Tools division intends to strengthen its activities in the surface technology, and to extend its existing portfolio of abrasives products. It is expected that the two companies will jointly benefit from their respective competencies in development, application, manufacturing and marketing.
For this reason, Bosch Power Tools also intends to locate its global competence center for flexible abrasives in Frauenfeld. Accordingly, Bosch views the future prospects for the production site, employees and management as very attractive. Especially in its industrial business, the sia Abrasive brand is to be retained.
By joining forces with Bosch, sia Abrasives can look forward to the great future potential of new addressable markets and enhanced sales growth..
Also for the company sia Biffignandi spa (Italy), closely identified with sia Abrasive since almost one century, this development surely represents a new opportunity for growing and develop new solutions for their customers, besides the certainty of a rapid completion of works in progress.