Poland

On June 22nd, 2023, Polish manufacturer of gas springs FA Krosno S.A., merged into one group with the French manufacturer of gas springs, company Airax. Both companies are suppliers for car manufacturers, spare parts distributors and companies using gas springs for various industrial applications.

At the end of 2022, the French manufacturer of gas springs Defta Airax (based in Besancon) announced the start of a restructuring process. The restructuring was caused by the worsening of the company's financial results. - Knowing the highly competitive industry of gas spring production, Management Board of FA Krosno S.A. saw the possibility of combining both companies into one group - says Krzysztof Frelek, President of the Management Board of the Polish company for AutomotiveSuppliers.pl. - We have expressed our interest in acquiring of Defta-Airax.

Within the scope of several months, the management board of FA Krosno, supported by the French consulting company RSR Conseil and the management of Defta Airax, analyzed the possibility of merging the two companies in a way that would guarantee the profitability of both factories. A detailed plan of merging the companies into one group has been developed, which assumes the transfer of part of the production to Krosno and the reorganization of the factory in Besanson. At the same time, talks were held with Defta Airax customers regarding ensuring the uninterrupted continuation of deliveries and service. As a result of the talks, the merger plan was approved by Defta Airax's main customer.

After the merger plan was approved by the supervisory board and shareholders, the management board of FA Krosno S.A. decided to submit an offer for the purchase of Defta Airax to the court conducting the restructuring proceedings. On June 21st, The Court in Bobigny (France) issued a decision accepting the offer to purchase the enterprise submitted by the Polish company. FA Krosno registered a company in France taking up 100% of the shares. Airax, the new company, acquired all tangible and intangible assets and in addition almost half of employees of Defta Airax were transferred to the new company.

FA Krosno is a company with nearly 50 years of experience in the production of gas springs. In the automotive industry, the company sells its products to car and truck manufacturers as well as their suppliers. The company also produces gas springs used in the construction, furniture, agricultural, boatbuilding and medical industries. FA Krosno has its own R&D department and a well-equipped laboratory.

- Thanks to Airax joining us, the position of our Group has become significantly stronger - says Krzysztof Frelek, President of the Management Board of FA Krosno S.A. - The new Group will use the experience of both companies and synergies in the areas of R&D, sales and purchases, among others. The strength of the group is also two locations of factories - in Central and Western Europe. This will allow for excellent logistic service for customers.

The production processes in both plants use highly automated lines for the production of piston rods, cylinders and lines for the assembly of gas springs. The technology of chemical and thermal steel treatment is used to obtain an anti-corrosion coating on the piston rods.