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Possehl to buy Monforts' textile finishing machineries

23
Feb '06
Woven and knitted fabrics machine producer market A. Monforts Textilmaschinen informed that L. Possehl & Co mbH will acquire A. Monforts Textilmaschinen GmbH & Co KG, headquartered in Mönchengladbach, with effect from April, 1st 2006.

A. Monforts Werkzeugmaschinen GmbH & Co KG is not subject to the transaction but remains under the control of the Monforts von Hobe family.

Monforts Textilmaschinen-Group generates sales of c. EUR 110m with 375 employees and is the world market and technology leader in textile finishing machineries. After the acquisition the company will be based in Mönchengladbach furthermore.

The family company, which enjoys a long tradition since its foundation in 1884, produces textile machineries for finishing and coating of woven goods and knitted fabrics. Monforts is the most established manufacturer of textile machinery offering the entire vertical integration within the textile finishing segment.

With plants in Mönchengladbach, Austria (Wolkersdorf – St. Stephan), Switzerland (Oberaach) and its Joint Venture in China (Hong Kong, Shenzhen), the company pursues an international approach. Export quota is over 90% and worldwide distribution focuses on Asian growth markets.

Possehl intends to continue the highly successful Joint Venture together with Chinese partner Fong's National Engineering Co Limited in unmodified form.

Sole and solid shareholder of L. Possehl & Co. mbH is the Possehl Foundation.For the management holding L. Possehl & Co. mbH this acquisition represents the next step in its growth strategy defined in 2004.


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