Visottica Comotec, an eyewear components company based in the Veneto region of Italy, has completed the acquisition of a majority stake in Ookii, a specialist in precision micromechanics headquartered in the Belluno eyewear district in Italy. The deal will also see the company gain a majority stake in Matrix s.r.l., a leading producer of Metal Injection Moulding (MIM) and microfusion components, of which Ookii holds 100% of the capital.
Visottica Comotec’s share in Ookii has risen to 83.8%, up from a 50% share which it has held since 2017. Established in 1994, Ookii specialises in the production of moulds and small metal parts, operating mainly in the eyewear and precision engineering sectors. Among the main processes used include cold moulding, die-casting of zamak, aluminium and magnesium, and moulding of plastic materials. Matrix primarily uses MIM stainless steel (316L and 17-4PH) for the production of components for the biomedical, automotive, fashion and aerospace sectors.
Visottica Comotec also recently acquired 50% of Eurodecori, a company specialising in the production and processing of zamak parts. Through a policy of strategic acquisitions, Visottica Comotec explains that it has progressively expanded its offerings, creating a high-level technological hub.
Rinaldo Montalban, president of Visottica Comotec, stated, “With this consolidation of the corporate structure, we can support our traditional customers even more effectively thanks to our leadership in the eyewear sector, while also empowering our presence in rapidly developing markets like industrial and fashion accessories. Technological integration and the combination of the different know-how of the group’s companies guarantee tailor-made products with maximum flexibility and speed, integrating them into Visottica Comotec global strategy and offer. This operation also confirms the strategic vision of the Group to maintain a strong manufacturing presence in Italy to support Asian production.”
The agreement between the two companies provides for the acquisition by Visottica of 100% of the Ookii shares in 2024.
For more background on Matrix, read our ‘The evolution of MIM at Matrix: From transforming the production of eyewear components to luxury goods and beyond’ lead article in the September 2020 issue of PIM International.