Gevorkyan updates on its European expansion and acquisition strategy
Powder Metallurgy parts producer Gevorkyan a.s., headquartered in Vlkanová, Slovakia, has released updates on its 2024 acquisitions, including the transfer of business from acquired companies in Italy to Slovakia.
The company noted that its previous investments in capacity expansion, automation and digitalisation allowed it to integrate Powder Metallurgy plants in Poland and Sweden. These acquisitions are expected to bring in €12-14 million per year in sales, complementing Gevorkyan’s own organic growth from existing operations without any material impact on its operating margins or increased capex costs.
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The acquisitions also aim to further diversify Gevorkyan’s customer portfolio and provide local technical and commercial support in the Southern Europe region. They will expand Gevorkyan’s capabilities beyond its product development department, tool production and acquisition of new customers and projects.
This strategy also includes new contracts for the aerospace industry and the development of sophisticated components for Additive Manufacturing, where Gevorkyan offers customers high-capacity and fast solutions.
“The integration of the new companies will preserve long-standing client relationships,” stated Artur Gevorkyan, CEO and Gevorkyan Chairman. “After the acquisition, our partners gain access to Gevorkyan’s strong product development, cheaper energy, and become member of a family of a global supplier for the whole world. We are confident that by combining our strengths with local professionals, we will be able to deliver even more value to our customers.”
