MYL ADQUIRES THE ITALIAN SMZ ITALIA SRL. COMPANY

On 28 November 2018, MYL acquired 100% of the Italian SMZ Italia Srl. company. SMZ is the leading electrospindle repair and sales company in Italy. The company is based in Turin and has more than 20 years' experience in the Italian market under the management of the Von Slawik family. It has a staff of 36 workers and is one of the leading companies in the country.

This acquisition will allow MYL to multiply its production capacity two-fold and secure its strategic position, thereby becoming the largest electrospindle repair company in Europe. Moreover, given that Italy is the second most important machine tool market in Europe, surpassed only by Germany, the company has taken a significant step forward as a manufacturer of new products.

Imanol Gil, CEO of MYL, has expressed his deep satisfaction with the agreement reached between the two companies: "Integrating SMZ within our company represents a very significant strategic leap. Not only does it position MYL as a benchmark in electrospindle manufacturing, but also gives us the opportunity to become the largest multi-brand repairer in Europe".