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Oerlikon Neumag adjusts its product portfolio
08 Aug '11
5 min read
Mr. Zhang Jie, Chairman of Hi-Tech Group, comments: "This acquisition is highly in line with Hi-Tech Group's corporate strategic goal and will be an important step for our global business development. We are very confident that the synergies between the acquired Carding unit and our existing nonwoven business will bring benefits to all parties involved."
Being the only major textile machinery manufacturer in China under the Central State-owned Assets Supervision and Administration Commission, Hi-Tech Group is one of the strongest and largest textile machinery supplier in China and the second largest in the world. Having been in the textile machinery business for over sixty years, Hi-Tech Group enjoys an excellent reputation for its quality products and strong financial strength in the Chinese market. Focused on its key business of textile machinery, Hi-Tech Group is doing its best to improve competitiveness by implementing its globalization strategy.
So within the next three years after the acquisition, Hi-Tech Group will make more investments into European locations to enrich the R&D ability and will reduce costs by optimizing resource allocation worldwide. After the acquisition, the Carding unit will be an independent business division and continue its dedication to the traditional markets as a base for high technology products. In addition, Chinese Hi-Tech Group Corporation will ensure that the Carding Division will serve its existing and future customers in the same manner, with quality products still being made in Europe.
After the transaction Oerlikon Neumag will focus on its main business activities like BCF, Staple Fiber and selected Nonwoven Equipment. As a result, the site Neumünster, Germany, is not affected by the sale of the Carding business. "In addition to many operational improvements of Oerlikon Neumag during 2010 and 2011, this strategic step contributes by systematically increasing the profitability of the Segment Oerlikon Textile. Oerlikon Neumag can now fully concentrate on its main business and we ensure that the Carding business is placed with a strategically appropriate parent company in future," says Oerlikon Group CEO Michael Buscher.
Oerlikon is a leading high-tech industrial group specializing in machine and plant engineering. The Company is a provider of innovative industrial solutions and cutting-edge technologies for textile manufacturing, drive, vacuum, thin film, coating, and advanced nanotechnology. A Swiss company with a tradition going back over 100 years, Oerlikon is a global player with more than 16 500 employees at over 150 locations in 36 countries and sales of CHF 3.6 billion in 2010. The Company invested in 2010 CHF 239 million in R&D, with over 1 200 specialists working on future products and services. In most areas, the operative businesses rank either first or second in their respective global markets.
Being the only major textile machinery manufacturer in China under the Central State-owned Assets Supervision and Administration Commission, Hi-Tech Group is one of the strongest and largest textile machinery supplier in China and the second largest in the world. Having been in the textile machinery business for over sixty years, Hi-Tech Group enjoys an excellent reputation for its quality products and strong financial strength in the Chinese market. Focused on its key business of textile machinery, Hi-Tech Group is doing its best to improve competitiveness by implementing its globalization strategy.
So within the next three years after the acquisition, Hi-Tech Group will make more investments into European locations to enrich the R&D ability and will reduce costs by optimizing resource allocation worldwide. After the acquisition, the Carding unit will be an independent business division and continue its dedication to the traditional markets as a base for high technology products. In addition, Chinese Hi-Tech Group Corporation will ensure that the Carding Division will serve its existing and future customers in the same manner, with quality products still being made in Europe.
After the transaction Oerlikon Neumag will focus on its main business activities like BCF, Staple Fiber and selected Nonwoven Equipment. As a result, the site Neumünster, Germany, is not affected by the sale of the Carding business. "In addition to many operational improvements of Oerlikon Neumag during 2010 and 2011, this strategic step contributes by systematically increasing the profitability of the Segment Oerlikon Textile. Oerlikon Neumag can now fully concentrate on its main business and we ensure that the Carding business is placed with a strategically appropriate parent company in future," says Oerlikon Group CEO Michael Buscher.
Oerlikon is a leading high-tech industrial group specializing in machine and plant engineering. The Company is a provider of innovative industrial solutions and cutting-edge technologies for textile manufacturing, drive, vacuum, thin film, coating, and advanced nanotechnology. A Swiss company with a tradition going back over 100 years, Oerlikon is a global player with more than 16 500 employees at over 150 locations in 36 countries and sales of CHF 3.6 billion in 2010. The Company invested in 2010 CHF 239 million in R&D, with over 1 200 specialists working on future products and services. In most areas, the operative businesses rank either first or second in their respective global markets.
Oerlikon Textile
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