NORMA Group intends to focus even more strongly on its core business joining technology. The Management Board decided to initiate a divestment process for the global business activities of the strategic business unit Water Management.
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 business units Industry Applications and Mobility & New Energy.
CEO Guido Grandi: “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: 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 allow 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.
Guido Grandi: “Our long-term objective remains unchanged: We want to offer our customers added value with innovative joining technology and achieve sustainable profitable growth. The process we have now initiated is in line with our ‘Step Up’ program launched in 2023, as we will continue to consistently pursue the expansion of the industrial business.”
NORMA Group was founded in 2006 as a merger of two European companies for joining technology. Since 2012, the company has been developing business with water management products through several company acquisitions. In the strategic business unit Water Management, around 1,500 employees worldwide generated sales of around EUR 300 million in the fiscal year 2023, which corresponds to around a quarter of Group sales of around EUR 1.2 billion.
NORMA Group will now initiate the divestment process. The duration and outcome of this process are open at this time.
Source: NORMA Group SE
