Oerlikon completes the sale of its natural fibre - sportstextiles: Lea SportsTextiles

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Oerlikon completes the sale of its natural fibres business

05/07/2013
Swiss textile machinery manufacturer Oerlikon has sold its natural fibres business to the Jinsheng Group of China. The agreement to divest the Natural Fibres and Textile Components Business Units was signed on December 3, 2012. Oerlikon expects to earn 470 million Swiss francs (almost $490 million) from the transaction.

Oerlikon will now focus on the manmade fibre business and has renamed its textile segment the manmade fibres segment, which the company regards as attractive, growing and less cyclical. Chief executive, Jürg Fedier, commented: “The closing of this transaction marks an important milestone in the reshaping of our portfolio, and it further strengthens our financial profile for investments in growth opportunities.”

Stefan Kross will be the chief executive of the manmade fibres segment with immediate effect. Clement Woon, chief executive of the former textile segment, will leave the Oerlikon Group.


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