Acquisition of Cronite by CICLAD

Acquisition of Cronite SA, a world leader in the design and production of refractory steel tools and components resistant to high temperatures and thermal shocks, by CICLAD from Safe Group, an international industrial group. Financial terms were not disclosed. This divestment is part of the implementation of the new Safe Group strategy promoted by its shareholders who have recently strengthened its financial resources. The Safe Group is refocusing on its Safe Metal and Safe Demo business areas to speed up its development through acquisitions and to consolidate its global positioning. This process will complement the 4.0 programs of innovation and integration of new technologies in order to confirm Safe Group as a high-tech supplier offering its customers ground-breaking industrialized solutions.