Zurich office managed sale of global steel moulds producer SYRO Group.
SYRO Engineering AG (Switzerland) and SYRO Asia Ltd. (Hong Kong), global leaders in the production of steel moulds for the fibre cement industry, have sold their activities to the ELKUCH Ludwig AG in Liechtenstein through an asset deal.
For over 100 years, and for the last two decades under the leadership of Mr. André Kupferschmid, SYRO has covered a leading position in the global supply of flat and corrugated steel moulds for the fiber cement industry, with 60% market share. To best plan its succession, Mr. Kupferschmid has decided to sell his company to a strategic investor.
The existing business infrastructures of SYRO will remain in place and the organization will be integrated into the ELKUCH Group. The transaction was closed by the end of April 2016 and Mr. Kupferschmid will remain active for SYRO Group under the new ownership until the end of 2016.
Based in Bendern, Liechtenstein, ELKUCH Group has been successfully active in the steel and sheet steel processing industries for over 60 years, expanding to several related business areas. Main industries covered are chemical, mechanical, logistic, transportation and housing. ELKUCH Group has also successfully completed major international projects.
ICFG Zurich represented the interests of the seller in 2016