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Coventry precision engineering firm takes over rival

Story added 29 October 2009.

A firm specialising in CNC machining and precision engineering has been bought out by its rival in Coventry in a deal which could generate extended revenue for the new organisation.

West Midlands-based Tangi-Flow has had its product line purchased by multi-spindle machines specialist Wickman, with the latter identifying the organisation as one which can bring about room for expansion and growth despite the downturn.

It is hoped that £1 million can be made in the deal in terms of turnover during the next three years, as the precision engineering

While the Tangi-Flow brief includes auto-retract rollerboxes, tapping heads, recess tool holders and broaching heads, such assets as the company's trademark, intellectual property rights, stock and remaining assets will run independently as Tangi-Flow Products.

Another firm which has recently expanded its operations is Yamazaki Mazak, which is looking to open its new European Technology Centre on November 25th in Worcester.

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