In a statement, Fives said the deal with Imec Engineering’s pipe and tube division will enhance Fives’ lineup of stainless steel machinery and strengthen its overall offerings to the mechanical, structural and automotive tubing markets. 

"The acquisition will enable us to provide complete customized solutions to tube manufacturers worldwide and cement our position as a supplier of choice from start to finishing," said Stefano Olcese, head of Fives’ pipe and tube business line. 

Fives said the acquired portfolio is made up of Imec’s technological expertise in four segments: polishing, finishing, packaging and handling.