REMUS Holding acquires GLM Group
- Jul 2, 2024
REMUS Holding, a leading Tier 1 supplier of exhaust systems for the automotive, motorbike and aftermarket industries, is pleased to announce the acquisition of the Italian GLM Group based in Pescara. The signing took place on 28 June 2024 and marks a significant milestone in REMUS' inorganic growth strategy.
Strengthening the market position and expanding the portfolio
The GLM Group is a renowned Tier 2 supplier with first-class technical expertise, flexible manufacturing capabilities and state-of-the-art production capacities. GLM serves well-known customers in the automotive and motorbike industries and employs over 675 people in four production facilities in Italy, Serbia and Mexico. In 2023, GLM achieved a turnover of 90 million euros. For 2024, the Group is planning a turnover of € 100 million.
Strategic synergies and growth opportunities
With around 1,000 employees at three production sites in Austria (>650) and Bosnia (>350), REMUS is a major employer in Austrian industry. The acquisition of the GLM Group will help REMUS to further strengthen its market position as a leading supplier, improve vertical integration and increase operational efficiency. The expansion of the product portfolio and entry into new markets will open up additional cross-selling potential and strategic synergies. The site in Mexico also offers considerable potential for further expansion and broader market access in the NAFTA region.
Stephan Zöchling, co-owner and CEO of REMUS, commented: "The acquisition of the GLM Group is a decisive step for REMUS. With this acquisition, we are not only expanding our product portfolio and customer base, but also our technical expertise and production capacities. We see enormous potential in the synergy effects created by this integration and look forward to opening up new markets together with GLM and further increasing our competitiveness. Serbia and Mexico will play an important role in this."
Focus on research & development
A central component of the acquisition is the bundling of all R&D activities at the site in Austria. The creation of a joint "development centre" is intended to further increase REMUS' innovative strength and drive forward the development of new technologies.
Voitsberg, 2nd July 2024
