Hot on the heels of the purchase of Altendorf by Avedon Capital Partners, is the news that the Chinese KDT machinery company has bought a 75% share in the Italian Masterwood firm. Rumours also abound that another well-known CNC manufacturer and an edge banding company are also under scrutiny.
KDT Machinery Co. has bought Masterwood to improve its products technology and expand its global market share. The wholly-owned subsidiary KDT MAC (Hong Kong) Ltd. signed a Sale and Purchase Agreement with three individual shareholders of Masterwood S.p.A. on February 10th to purchase 75% of the company in total. The new Board of Directors will be composed of a Chinese representative from KDT, a representative of an Italian professional firm and Giancarlo Muti, who will remain in the position of managing director. Giancarlo said “Our first thought was to keep the employment and the Italian technology.” Masterwood reports that with the retention of Giancarlo Muti as the company CEO and Matteo Muti as COO; that Masterwood remains an Italian company. All the range of machines will continue to be designed and built at the Italian facilities for the foreseeable future.
Mr. Muti went on to say “This operation gives us the opportunity to reach a more international dimension allowing us to compete more effectively with the major players. We needed a dimensional and commercial leap to respond to the challenges of an increasingly globalized market. This marriage will greatly facilitate us not only in the markets where we are present today but on the difficult and potentially huge market of South East Asia. The headquarters will remain in Rimini.” The acquisition will also enhance KDT’s CNC processing technology and accelerate the upgrade of its automation. Masterwood has developed well and enjoys high brand awareness in Europe and North and South America, which will help KDT develop its international market.
KDT is a leading panel machinery manufacturer in China with rapid growth in recent years, selling equipment to over 50 countries and regions worldwide. KDT has established technology collaborations with partners in Korea and has built a modern R&D and test centre in China. Continuous improvement and reinforced quality control is the company’s core competitive strength. The company sources thousands of high quality parts from a group of satellite factories and from renowned suppliers in Korea, Japan and some European countries. In Australia KDT is supplied by Leda Machinery. Bruce Evans of Leda said that KDT were particularly interested in the top end of the Masterwood range. In Australia, Masterwood is sold by Stefano Cesamolo of Masterwood Australia.