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Benninger acquires wet finishing ranges supplier Küsters
28 Nov '07
2 min read
Benninger AG has acquired Küsters Textile GmbH, the German supplier of wet finishing plants for the textile industry with head office in Zittau and subsidiaries in China, with retroactive effect backdated to 1.1.2007. Küsters will be integrated in the manufacturing network of the Benninger Group. The existing production site in Zittau will continue to produce textile machinery.
This will make the Benninger Group the market leader for the production of wet finishing plants, and it will provide the group with an excellent global platform for tackling future challenges in the machinery industry.
Customers of Küsters and Benninger will be able to rely on a strong partner who will not only continue to make every effort to supply innovative machine systems and processes which deliver the ultimate in terms of quality and reliability, but who will also continue to provide excellent customer service.
This acquisition marks a further successful step in Benninger's international expansion strategy. Daniel Hirschi, CEO of Benninger AG, believes that this acquisition offers key advantages for the group: "With this acquisition we will attain an excellent market position which will enable us to further improve our efficiency towards our customers”. He adds: “The synergies we will be able to exploit as a result will contribute to put Benninger in a even better position regarding global competition.“
Küsters is one of the leading suppliers worldwide of wet finishing plants for the textile industry. The company was founded in 1949. Küsters has a particularly strong position in the area of dyeing. With around 180 employees, Küsters achieved a turnover of around EURO 22 million (around CHF 35 million) in 2006.
Both parties have agreed not to disclose the price of the transaction. The planned acquisition is still subject to approval by the relevant antitrust agencies.
This will make the Benninger Group the market leader for the production of wet finishing plants, and it will provide the group with an excellent global platform for tackling future challenges in the machinery industry.
Customers of Küsters and Benninger will be able to rely on a strong partner who will not only continue to make every effort to supply innovative machine systems and processes which deliver the ultimate in terms of quality and reliability, but who will also continue to provide excellent customer service.
This acquisition marks a further successful step in Benninger's international expansion strategy. Daniel Hirschi, CEO of Benninger AG, believes that this acquisition offers key advantages for the group: "With this acquisition we will attain an excellent market position which will enable us to further improve our efficiency towards our customers”. He adds: “The synergies we will be able to exploit as a result will contribute to put Benninger in a even better position regarding global competition.“
Küsters is one of the leading suppliers worldwide of wet finishing plants for the textile industry. The company was founded in 1949. Küsters has a particularly strong position in the area of dyeing. With around 180 employees, Küsters achieved a turnover of around EURO 22 million (around CHF 35 million) in 2006.
Both parties have agreed not to disclose the price of the transaction. The planned acquisition is still subject to approval by the relevant antitrust agencies.
Benninger AG
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