Textile machinery company Trützschler buys out Fleissner
27 Nov '06
2 min read
GEA Group Aktiengesellschaft sells Fleissner GmbH, Egelsbach, Germany, a manufacturer of textile machinery to the Trützschler Group, Mönchengladbach, Germany.
Fleissner is a profitable business and generated sales of approximately EUR 60 million with about 350 employees in 2005. The company is a subsidiary of Zimmer AG and as such it is part of the PET and Fibers division.
"This transaction constitutes a first successful step of the envisaged sale of our Plant Engineering segment. Further steps will follow shortly. We are convinced that, in Trützschler, Fleissner has found an excellent owner which, given its international experience within the textile engineering industry, will be able to provide Fleissner with the best possible support in taking this business forward", said Jürg Oleas, CEO of GEA Group Aktiengesellschaft.
"The acquisition of Fleissner represents another major step in the expansion of Trützschler's nonwoven operations", added Dr. Michael Schürenkrämer, managing partner of the Trützschler Group.
The disposal of Fleissner is the result of a bidding process in which a number of investors took part. The transaction will have a positive overall impact on the net position of GEA Group.
Trützschler is a globally active textile machinery manufacturing company. We specialise in the production of machinery and systems for spinning mills and the nonwoven industry.
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