Piab Group, Sweden, entered into an agreement to acquire TAWI Group, a Laguna, Philippines-based manufacturer of smart lifting solutions. With this acquisition, TAWI adds a complementary portfolio of products, skilled employees, a strong network of distributors as well as new customers.
“TAWI has a perfect strategic fit to our business,” says Clas Gunneberg, chief executive officer of Piab Group. “The market for smart and ergonomic lifting solutions is growing rapidly thanks to manual lifting processes being automated. We foresee very strong growth opportunities with the addition of TAWI’s competitive product portfolio and highly skilled employees, whom I would like to take the opportunity to welcome to the Piab Group.”
“Piab´s long history of innovation in vacuum technology and global market access will allow for TAWI to further strengthen its offer to customers in need of smart and ergonomic lifting solutions,” adds Thomas Bräutigam, chief executive officer of TAWI Group. “By joining the Piab Group, TAWI joins an excellent global company, a leading innovator in the vacuum technology market, and together, we will strengthen our leading position in the semi-automatic lifting market.”
“Increasing well-being is an ever-growing priority for employers around the world. The acquisition of TAWI allows Piab to offer even more solutions to create an effective and safe working environment,” says David Collins, vice president ergonomic handling division of Piab Group.