CPM S.p.A., which is based in Turin (Italy), specializes in turnkey final assembly systems for the automotive industry. CPM was established in 1967 and has been part of the Dürr Group since January 1, 1999. In the 2022 fiscal year, CPM achieved sales of approximately €100 million and had around 90 employees. The recently sold company shares had been owned by the Bellezza founder family, which is now retiring due to age.
CPM as a competence center for innovative final assembly systems
Thanks to its NEXT.assembly strategy, the Dürr Group has improved its customer care and the marketing of its product range in final assembly technology. CPM has a special role in this: Dürr’s Italian subsidiary has overall responsibility for turnkey projects. The NEXT.assembly concept has been very well received by customers: During the construction of assembly lines for electric vehicles, systems have been installed that offer a high level of automation and a novel layout for different manufacturers. CPM has presented, among other things, an innovative automated guided vehicle. This automated transport system for car bodies delivers flexibility in final assembly.
Dr. Jochen Weyrauch, CEO of Dürr AG, says: “By acquiring all shares in CPM, we are making a logical business move. Our Italian subsidiary is an important part of the Dürr Group, not only in technical but also in economic terms. CPM is a renowned expert in final assembly technology and excels, above all, through its high-quality and innovative technology in systems business.”
Purchase price impacts net financial debt
A large proportion of the purchase price for the shares in CPM was already paid at the end of 2022. The cash outflow is expected to lead to an increase in net financial debt by the end of the year. However, the forecast range of between
€-75 and -125 million remains unchanged. The exact level of net financial debt will be published, along with the preliminary annual figures, on February 23, 2023. The net financial status stood at €-55.4 million at the end of September 2022. By contrast, the share acquisition has no impact on free cash flow.