Coriolis Group acquires filament winding specialist MF TECH
Parent company of Coriolis Composites completes first external growth operation, strengthening its industrial robotics for composites manufacturing.
Coriolis Group (Lorient, France) announces its acquisition of a 100% stake in filament winding specialist MF TECH (Argentan, France). Coriolis Group is the parent company of Coriolis Composites, a leader in automated fiber placement (AFP) technology and manufacturer of robotic cells and software for the industrial production of composite parts. With this first external growth operation, Coriolis Group extends its expertise in industrial robotics, creating a new organization with 172 employees and an annual revenue approaching 30 million euros.
Founded in 2004, MF TECH has 18 employees and has become a global leader in the field of robotic filament winding, a technique used to manufacture a wide variety of composite parts. The robots developed by MF TECH are currently used in multiple sectors including automotive, aeronautical and aerospace, defense, nuclear, medical and sporting goods.
This acquisition offers many technological and commercial synergies. MF TECH will benefit from Coriolis Composites’ established relationships with the major aerospace contractors and its international network including five subsidiaries in the USA, Canada, China, Germany and the UK. In turn, MF TECH’s development and reputation in the automotive sector is perfectly in step with Coriolis Composites’ strategy, and the Coriolis Group will build on this with the goal of accelerating its penetration of this high-potential sector.
MF TECH’s two founding directors, Emmanuel Flouvat and Arnaud Ménard, now become part of the Coriolis Group's operational management and will continue their direct involvement in the technological and commercial development of filament winding solutions.
Coriolis Group president Clémentine Gallet states: "I am extremely pleased with the collaboration between our two companies, both of which are at the cutting edge of robotics technology within their respective fields. We share the same culture of innovation and the same vision of the role to be played by robotics within the composites field. Together we will be able to offer a complete package, unique in the market, to all our customers. This is an important stage in our strategic plan designed to see our Group become a global leader in industrial robotics for the manufacturing of composite parts ‒ a market offering significant potential over the long term. "
Founded in 2001 in Queven, France, Coriolis Composites has experienced high growth, advancing from a 2014 turnover of 19 million euros to 27 million euros in 2017. Though it actually started in nonaerospace applications, including sporting goods and automotive, its growth results mostly from its position at the forefront of automated manufacturing for aircraft fuselage and wing structures made from carbon fiber reinforced composites, including thermoplastic composites.
As the parent of Coriolis Composites, and backed by ACE Management, Bpifrance and Société Financière Lorient Développement, Coriolis Group is expanding internationally and into new markets such as automotive and renewable energies, which also use composites. Based in Lorient, it has 156 employees and achieved a turnover of € 26.8 million in 2017, of which 74% was through exports.
Coriolis Composites will also be presenting at Carbon Fiber 2018. Learn more about the event at carbonfiberevent.com.
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