Possehl to buy Monforts' textile finishing machineries
23 Feb '06
3 min read
Monforts Textilmaschinen-Group will represent an additional independent business segment within the Possehl-Group following the takeover of Harburg-Freudenberger Maschinenbau GmbH and Hako Holding GmbH & Co KG in 2005.
Uwe Lüders, CEO of L. Possehl & Co. mbH: "As an independent business division Monforts Textilmaschinen-Group can maintain its own identity and has the opportunity to strengthen its market position and to further develop the company successfully in the long run."
The Lübeck-based Possehl-Group will generate more than EUR 1.2 billion revenues with 6.700 employees in 2006. Possehl is active in the following business lines: processing of precious metal, elastomer techniques, electronics, professional cleaning machinery, special construction, international trade and now textile machineries.
The acquisition of Monforts Textilmaschinen-Group, demonstrates again that Possehl is an appropriate successor and new owner for mid-sized companies.
A frictionless transfer of ownership has already been accomplished in the course of the acquisition of Harburg-Freudenberger Maschinenbau, world-leader in plants for tyres production, and the acquisition of the majority stake in Bad Oldesloer-based Hako (specialist for professional cleaning machines).
Uwe Lüders, CEO of Possehl-Board: "In competition with Private Equity investors we successfully specialised in offering family companies a long-term view and a secure future perspective for the businesses. Companies that belong to the Possehl Group can rely on a trustful corporate environment."
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