FAAC buys Magnetic
Italian based FAAC continued its march through parking industry manufacturers by purchasing Magnetic AG. From their News Release:
On April 27th 2012 FAAC SpA completed the acquisition of Magnetic Autocontrol Group, a world player in the domain of vehicle and access control. Headquartered in Schopfheim (Germany) Magnetic Autocontrol is a sound and strong company operating in the high growth market of “vehicle and pedestrian access control” covering the global market through subsidiaries in Germany, Switzerland, Australia, China, Malaysia, Brazil, India and the USA.
This is on the heels of the company’s purchase of Datapark earlier this year and Zeag in mid 2011.