NORMA Group intends to focus on its core business as a market leader for joining technology, with the initiation of a divestment process for the global business activities of its Water Management business unit.
This step is the result of an in-depth review by the Management Board regarding the further strategic direction of the company. The aim is to strengthen the market position of the remaining Industry Applications, Mobility and New Energy business units.
CEO Guido Grandi comments: “In a persistently difficult market environment, we have reviewed our portfolio and are exploring divestment options for the global Water Management business. In the future, we will concentrate even more strongly on our inherent core business areas including mission critical joining technology for mobility, infrastructure, machinery and other industrial applications. We see high potential for profitable growth, especially in the area of Industry Applications, both organically and through acquisitions.”
The divestment of the water business will enable NORMA Group to free up resources and capacities for further growth in the business units Industry Applications and Mobility & New Energy. These business units have many synergies, including similar or identical product groups that can be manufactured in the same plants. Respective products are metal clamps, pipe couplings, plastic quick connectors, fluid-transport systems and other joining elements.
Having spent a decade in the fastener industry experiencing every facet – from steel mills, fastener manufacturers, wholesalers, distributors, as well as machinery builders and plating + coating companies, Claire has developed an in-depth knowledge of all things fasteners.
Alongside visiting numerous companies, exhibitions and conferences around the world, Claire has also interviewed high profile figures – focusing on key topics impacting the sector and making sure readers stay up to date with the latest developments within the industry.
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