Starrag to merge with Tornos.

Starrag, a manufacturer of high-precision machine tools for CNC milling, turning, boring and grinding workpieces of metallic, composite and ceramic materials, agreed to merge with Tornos, a company that specializes in the development, production and distribution of Swiss-type automatic lathes and multispindle machines. Financial terms were not disclosed. The merger to form the new StarragTornos Group will make it possible to significantly increase the company's global market presence. Together, attractive customer segments can be further expanded. Geographically, this applies in particular to the regions of America and Asia. In addition, the position of both brands will be significantly strengthened in promising, growing customer industries such as medical technology or the luxury goods industry.