We are delighted to announce that SORG and the shareholders of Techglass Sp. z.o.o. have signed a share purchase agreement contract for the acquisition of all Techglass shares.
Techglass is a leading glass plant manufacturer, particularly active in the construction of glass furnaces, forehearths, batch plants and related services. Founded in 1990, the traditional family business employs more than 120 people across two sites in Krakow and Warsaw.
As well as increasing our workforce, our acquisition is part of a sustainable growth strategy to further develop the Polish market and build on SORG’s excellent reputation in Europe.
“By combining the complementary competencies and sales channels of SORG and Techglass, we are strengthening our position as the leading European manufacturer of glass furnaces,” say Alexander and Michael Sorg, Managing Partners. “This means we are ideally placed to overcome existing and future challenges as we successfully meet the demands of our customers.”
Andrzej Skowiniak, Managing Director of Techglass, will remain in his current role to help ensure a seamless transition process: “This acquisition by the market leading SORG Group not only validates the hard work and dedication of our team, but also secures a promising future for our company. We look forward to achieving new milestones together.”
The transaction is expected to close by the end of the first quarter of 2024, subject to the fulfillment of contractual closing conditions.
23.01.2024, Nikolaus Sorg GmbH & Co. KG
News material on the Site is copyright and belongs to the Company or to its third party news provider, and all rights are reserved. Any User who accesses such material may do so only for its own personal use, and the use of such material is at the sole risk of the User. Redistribution or other commercial exploitation of such news material is expressly prohibited. Where such news material is provided by a third party, each User agrees to observe and be bound by the specific terms of use applying to such news material. We do not represent or endorse the accuracy or reliability of any of the info contained in any news or external websites referred to in the news.
Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.