New technologies compounding success

The Euro-Group is a privately owned Italian industrial conglomerate that is focused on the supply of steel laminations for electric motors and generators. Philip Yorke reports on a company that continues to add to its product portfolio through innovation and acquisition.

The Euro-Group was founded in the Lombardy region of Italy by the current president’s father-in-law Mr Arduini Sergio Iori, who began by producing blanking laminations under the trading name Eurotranciatura. Italy’s blossoming economy during that decade added impetus to the success of the company, resulting in its diversification and a more extensive product range. The year 1980 saw the establishment of a second company, Alcast, which was dedicated to aluminium die-casting products. Further growth followed in 1988 with the acquisition of a leading tool manufacturing company known as Carrada.

With this unique combination of engineering competences the Euro-Group began to operate as a strategic alliance that was able to offer markets a complete turnkey service. Further acquisitions followed in 2000 and in 2001 the company established ‘Euroslot’ which specialised in single-notched magnetic laminations. To further enhance its global aspirations, Euro-Group became an industrial holding company. Since 2008 it has also been involved in a wide range of activities and services that include purchasing, sales and marketing, as well as IT and human resources. As a result of its broad product portfolio and diverse range of customer services, the Euro-Group is able to offer a truly comprehensive package to both its existing and prospective customers. Expanding markets

Today more than 70 per cent of the company’s production output is for export markets. In Europe Germany is one of its key markets, with France, Spain, the UK, eastern Europe and the Nordic countries all making major contributions to its global sales. A leading company spokesman said, “In the future we will grow in North America due to its huge potential and in addition we cannot underestimate the emerging markets of China and Brazil.” The company said that it is working step-by-step to achieve its plans for international growth.

The continuing expansion by Euro-Group into new world markets is enhanced by its presence at many international trade shows and exhibitions in Europe and North America that relate to the electrical machinery industry.

New US presence

The Euro-Group recently announced that it has bought the Tecumseh Products company of Tenessee and plans to use this new acquisition as its American base of operations. The name of the company will subsequently change to Euro-Tanciatura USA, or ETU. The managing director of ETU, Matteo Fassio, speaking from Paris said, “The winding and assembly will stay with Tecumseh for the time being. We have an option to buy everything, including the building.”

Fassio also confirmed that all 68 workers in the division are currently employees of ETU and the company plans to grow this workforce to one hundred and eighty people within the next five years. Today the company has operations on four continents and serves over 500 customers including global brands such as Bosch, Siemens and Cummins. The Euro-Group has identified almost one hundred new customers and through its new centre in Paris and plans to target customers in industries like hemetic compressors, automotive, industrial pumps, traction motors and oil & gas. During the next five years the new US company plans to triple its existing volume to achieve a $60 million annual turnover.

A company spokesman added: “The Euro-Group is a traditional company story which is now in its second generation. Although a big market leader, it is a family run company which operates with passion and commitment, even during unsettled economic times and this represents a major part of our identity. Our growth will be driven by the continuous expansion of our current ventures and from new, innovative products.”

Broad-based group

The companies that make up the Euro-Group are market leaders in their own field. Founded in 1967 and the original manufacturing facility, Eurotranciatura is the largest production unit in Europe for electrical steel laminations. It specialises in the production of loose blanked laminations up to an external diameter of 800mm, or interlocked laminations for rotating electrical machinery designed for a wide range of industrial applications from white goods to power tools and generators.

With its technologically advanced, state-of-the-art facilities it has the highest capacity in Europe for the annealing and bluing of the blanked laminations. It is one of the world’s leading manufacturers with its Slinky System of alternator stator cores for the automotive industry.

Euroslot is also a market leader with a worldwide reputation for the single notching of laminations, and the Alcast company specialises in the casting of rotors and components for electric motors of all kinds. Another Euro-Group company, Carrada was founded in 1933 and is a global leader in the design and manufacture of carbide and speciality steel products. SAF is a company that dates back to 1963 and is actively involved in the manufacture of dies and components for the electronics industry. Euroslot Tools and the three Eurotranciatura companies based in the USA, Tunisia and Mexico, make up the other companies in the broadbased Euro-Group family of companies. n

For further information about Euro-Group’s innovative products and services, visit: www.euro-group.it