Biesse has acquired the Australian company Allwood Machinery for a purchase price estimated at £1.72m.

Allwood has six branches in Australia and New Zealand, 50 employees and has been marketing woodworking machinery in the two countries for more than 20 years. About half its total sales are earned through distribution of Biesse machines.

The purchase price may rise to £2.2m depending on Allwood’s financial results for 2002-03. An initial cash payment of £1.43m has been paid.

&#8220With the Allwood acquisition, the Biesse Group consolidates its presence in an important and growing market like Australia, where it already has substantial market shares in the wood sector”

Piero Valentini, Biesse general manager

Piero Valentini, general manager of Biesse, said: ‘With the Allwood acquisition, the Biesse Group consolidates its presence in an important and growing market like Australia, where it already has substantial market shares in the wood sector.’