2013-11-26

Petersen Machinery changes corporate name to CIDAN Machinery

Petersen Machinery is changing its corporate name to CIDAN Machinery with immediate effect for both companies in Sweden and Denmark. With the new name the group brings all companies under the same name,a process that was initiated beginning this year with the inclusion of the remaining shares in CIDAN Machinery Inc. located in Peachtree City, Georgia, USA, and the subsequent creation of a new logo. The group will continue under its present structure, there are no other changes in the ownership or changes in locations.

“CIDAN Machinery reflects the strong affiliation to the brand CIDAN under which our sheet metal machines have been market worldwide with great success during decades. Everybody knows CIDAN and Göteneds machines for their advanced technology, sturdy constructions and innovative
solutions. We will continue to sell our machines under the brand Göteneds to selected
markets in Northern Europe, such as Sweden, but the machines are besides the brand identical. With our new corporate name we however provide an immediate recognition in our export markets and trust that this change will be valuable for us in the future marketing of CIDAN machines”, says CEO Peter Tafazoli.

The change of name to CIDAN Machinery is part of a long term marketing strategy cementing the company as one of the world leading manufacturers within sheet metal industry. During the last three years Petersen Machinery has extended the dealer network world wide considerably. Growing markets in Asia has resulted in increased sales in especially the Chinese and the Southeast Asian areas where CIDAN machines have been introduced with great success.

The web home page address of the company will be www.cidanmachinery.com

CIDAN Machinery is leading manufacturer within the sheet metal industry
with a strong market position in USA, Europe and other key markets. The company
produces and markets the brands CIDAN and GÖTENEDS worldwide. The machine
portfolio is wide ranging from power folders, mechanical shears, cut-to-length
lines, decoilers and recoiling units up to as much as 8 mm thickness in mild
steel. Today CIDAN and GÖTENEDS machines from CIDAN Machinery are sold in
Europe, South America, North America, Middle East and Asia. CIDAN Machinery has
extensive production facilities in Götene, Sweden and own offices in Denmark,
USA and China.

For further information see www.cidanmachinery.com

Information about the company: Cidan Machinery Sweden AB

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