Starrag and Tornos Merge: No Layoffs

Thu, May 30th 2024

Starrag and Tornos merge to form StarragTornos, leveraging synergies in Europe and maintaining Swiss plants, says Chairman Michael Hauser.

In December, Starrag and Tornos, both owned by entrepreneur Walter Fust, merged to form StarragTornos. Michael Hauser, Chairman of the Board, discussed the benefits of this merger in an AWP interview. He assured that the Swiss plants will remain operational.

“With a turnover of between 500 and 600 million, we are not one of the big players globally. Within Europe, however, we are number four among machine tool manufacturers. The combination of the two companies offers us various advantages,” Hauser stated.

Hauser highlighted that the merger would enhance regional market coverage and create opportunities in industries like luxury goods and medtech. Additionally, the larger company size offers more negotiation power in purchasing and efficiencies in logistics, service, and administration.

When asked about potential changes to the production sites in Switzerland, Hauser confirmed, “All three sites in Moutier, Rorschacherberg, and Vuadens have their justification, and no changes are planned here due to the merger.” He also assured there would be no staff reductions due to the merger, though market conditions might necessitate adjustments.

Martin Buyle, the incoming CEO, emphasized that the merger increases the company’s visibility, which is crucial for a listed company. Buyle also praised Walter Fust’s role, highlighting the importance of a stable shareholder base for customer confidence.

Regarding business prospects, Buyle noted, “The situation in the industry varies depending on the sector, but overall demand is higher than last year.” He expressed optimism about the aerospace sector, citing promising projects despite Boeing’s challenges.

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Starrag and Tornos Merge: No Layoffs

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