Blaine, WA and Vancouver, BC, September 30, 2016 – Rangate congratulates Zuani srl and Rekord srl, for agreeing to an equal merger to create a new, privately-owned company, Targeted Working Tools Srl (TWT). With their combined knowledge and staff experience, TWT advances to a globally competitive position in the wood processing industry. With this merger, TWT is among the top three tooling companies globally having the largest engineering staff for solid wood window and door production. Particularly in North America, wood product manufacturers and woodworking enthusiasts now have a one-stop, full access outlet to the newly combined knowledge, engineering and solutions that Zuani, Garniga and Rekord used to offer, all through TWT’s partnership with Rangate.
“This is a strategic merger,” says Mario Baldo, TWT’s new CEO. “Rekord/Garniga and Zuani would both have been able to continue to stand on our own, despite recent economic challenges. To give us the ability to further the value we deliver to our customers, we decided to combine our efforts together both with our knowledge and physical assets. One factor which helped the decision was that our companies were actually complementary in market geography.”
Filippo Pellitteri, formerly of Zuani and now President of TWT, also added, “This merger gives us two major immediate advantages. First, with our combined knowledge, we can offer higher performing and custom engineered solutions, matching the increasingly capable and flexible machinery in the marketplace. Second, we can support our clients even better with our newly streamlined departmental roles and responsibilities by aligning highly experienced employees from Engineering to Shipping. We will also reinvest the result of our operational efficiency back to our customers.”
North American Zuani, Garniga and Rekord tool users can make inquiries on spare parts and product support to Rangate. “Rangate is our important strategic partner, who is well capable of developing the best local market solutions, managing projects, and providing proper local support including spares stock.” says Cristian Zuani, who remains responsible for the North American export market. “They are an extension to our team and philosophy.”
“In recent years, there is an increasing demand for high quality solid wood products like windows, doors and furniture in North America” says Greg Godbout, CEO of Rangate. “Our project-based approach to our clients’ needs in designing and procuring high performance CNC tooling for machining centers dovetails perfectly with this merger. To keep up with the needs of the North American market, Rangate has hired two new positions in the last year, and are looking at filling two additional positions presently. Together with TWT, we are excited to help our clients realize their goals.”
TWT has worked tirelessly within the new organization to minimize any transitional impacts since its inception on August 16, 2016. “Greg and I were pleased to see firsthand the results of TWT’s speedy integration. The factory aisles were clear, and TWT had assembled the best team members together, already working side-by-side diligently.” says Chris Chan, COO of Rangate. “What better time than now for our growing North American marketplace to be able to get an even higher degree of engineered products and services from the very same people we’ve already known for many years, operating under one roof.”
TWT is now operating at the Zuani facility in Rovereto, Italy. Both brands will begin a transition process to co-branding under the new TWT name.