Coriolis (Lorion, France) announced the acquisition of a 100% stake in MF TECH (Argentina), a specialist in fiber winding. Coriolis Group is the parent company of Coriolis Composites, a leader in automatic fiber placement (AFP) technology, robotic production of composite parts, and a software manufacturer. This is the first time that it has grown its business abroad. Coriolis has expanded its professional position in the field of industrial robots, creating a new company with 172 employees and an annual revenue of nearly 30 million euros.
Founded in 2004, MF TECH has 18 employees and has become a global leader in the field of robot fiber winding. Robot fiber winding technology is a technology used to manufacture various composite material parts. The robots developed by MF TECH are currently used in many fields, including automotive, aerospace, defense, nuclear energy, medical and sporting goods.
The acquisition provided many technical and commercial synergies to both parties. MF TECH will benefit from business relationships between Coriolis Composites and major aerospace contractors and their international business, including five subsidiaries in the United States, Canada, China, Germany and the United Kingdom. In turn, the development and reputation of MF TECH in the automotive field is fully consistent with Coriolis Composites' strategy, and the Coriolis Group will strengthen the development of high-potential sectors in this direction.
Emmanuel Flouvat and Arnaud Ménard, the two founding directors of MF TECH, are now the operations managers of the Coriolis Group, and they will continue to participate in the technical research and commercial development of fiber winding solutions.
Clémentine Gallet, President of the Coriolis Group, said: "I am very satisfied with the cooperation between the two companies, both of which are at the forefront of robotics in their respective fields. We have the same culture of innovation and both of us want robots in composite materials An important role in the field. We work together to provide all customers with a unique and complete product on the market. This is an important stage in our strategic plan to make our group a global industrial robot for the manufacture of composite parts. Leader-this is a market with huge potential over the long term. "
Coriolis Composites was founded in Queven, France in 2001. The company experienced rapid growth, rising from 19 million euros in 2014 to 27 million euros in 2017. Although the company actually started in non-aeronautical applications (including sporting goods and automobiles), its growth now comes mainly from its aerospace applications, as they have been standing by the automated manufacturing of carbon fiber reinforced composites, including thermoplastic composites. The forefront of aircraft fuselage and wing structures.
Coriolis Group, the parent company of Coriolis Composites, with the support of Bpifrance and Société Financière Lorient Développement, Coriolis Group is expanding into international markets and entering new markets such as automotive and renewable energy, because these markets also use composite materials. The company is headquartered in Lorient (Lorient is the capital of the province of Morbihan in the Brittany region of northwestern France, a harbour city with an area of 1742 hectares, and its main industries are fishing, trade, industry and tourism.) It has 156 employees Employees, with a turnover of 26.8 million euros in 2017, 74% of which came from exports.