For Itema this is the perfect opportunity to exploit synergies in production and industrial activities, thus illustrating the strategic importance of this acquisition.
“BarcoVision's entry in the Itema universe”, stresses Miro Radici, Itema CEO, “boosts our world leadership in the textile machinery industry, especially in terms of technology and innovation. We now have some very interesting opportunities for future growth, especially in terms of our possible IPO, something we expect to complete within the next 2 years.”
BarcoVision – which includes the 2 business units Loepfe and Sensors & Systems – currently has 3 production sites and 6 companies in Europe (UK, Italy, Switzerland, Belgium and Germany) and the USA.
BarcoVision is considered the world's number one producer of sensors and manufacturing execution systems for the textile machinery. It owns a multitude of innovative patents, with its products sold under the three leading brand names of Loepfe, Sedo and Treepoint. Its products YarnMaster, WeavingMaster and Sedomat are the benchmarks in Spinning, Weaving and Dyeing, the three macro areas of the textile machine industry.
Itema now has 4 specialised business units: Weaving with Promatech, Sultex, Itema Shanghai and First(weaving machines and accessories); Spinning with Savio and Istma (spinning machines), Knitting with Steiger (knitting machines) and Electronics with Eutron, and in the near future BarcoVision (electronic control systems for textile machinery). Itema currently counts about 2,500 employees, had total sales of euro 667 million in 2006 and is present in more than 90 countries.
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