Short-staple fibre spinning machinery specialist Rieter is to acquire three businesses from Dutch machinery manufacturing group Saurer. They expect to complete the deal before the end of August.

The three companies are automatic winder developer Schalfhorst, elastomer components provider Accotex and bearing solutions provider Temco.

Rieter will pay a total of €300 million for all three. The companies it is acquiring from Saurer had a combined turnover of €142 million in 2020, but the figures for the two years immediately before the pandemic were €260 million in 2018 and €235 million in 2019.

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