ISTOBAL INVEST IN VELYEN

28/02/2011

Istobal invests in Velyen with the acquisition

of 20%, creating and enhancing synergies.

 

Both Boards of Directors have given the green light to the transaction that allows Istobal to acquire 20% of the share capital of Velyen, leader company in workshop equipment.

In 2002, Istobal satisfactorily launched Velyen to have more competitive equipment, increase the product range and provide speed to the integration of a global supply in workshop equipment.

After 8 years, Velyen is become in a solid company in the automotive market and the Istobal's participation will strengthen the company's image with a strong showing of transparency and solvency.  In short, a strong link between reliable companies of the market.

Opportunities and growth model

Istobal and Velyen consider appropriate this form of participation, since it would keep the brands and companies independent, aligning both commercial strategies to gain market share and bring added value to customers of both brands with multiple opportunities for synergies.