Progress acquires Vida
The effects of the financial crisis are already being felt to a lesser or greater degree throughout the world. Conditions in the construction industry in particular are very difficult to say the least. For many companies the present economic turmoil will challenge their very survival. The downturn also offers well-placed companies the chance to strengthen their market position and gain a significant advantage over the competition. At Progress they realized early on that an expansion of international activities and an enlargement of range are the essential keys to success. This was the motivation for the acquisition of the renowned Italian company Vida.
The long-established mechanical engineering company Vida is now member of the Progress-Group. In May 2008 as the Vida takeover was finalized with the signing of contracts, behind the scenes preparations were in full swing: The company head office and production facility were transferred to Brixen and to accommodate the new additions to the range of machinery the Progress production facility was extended from 7.000 to over 9.000 m². The extension work was completed in the autumn of last year and the copious supplementary factory floor space created includes a demonstration area in which the...
