Oerlikon consolidates Riri in luxury market push
Textile machinery manufacturer Oerlikon has consolidated zipper, fastener and rivet supplier Riri, also based in Switzerland, as of March 1.
The news of the acquisition first broke in December.
A new business unit, Oerlikon Luxury, will be led by Renato Usoni, formerly chief executive at Riri.
From now on, Riri will operate as a separate entity under Oerlikon’s Surface Solutions umbrella and Riri and Cobrax branding will still be used on its products. The company has itself acquired several firms in recent years, including DMC, SPM Pressofusione and MR Plating. It notably committed to using only recycled polyester (80% post-consumer and 20% pre-consumer) for zipper tapes back in 2021.
Oerlikon called this latest agreement a “logical strategic next step” and complementary to its purchase of luxury components maker Coeurdor three years ago.
“The acquisition [of Riri] leverages Oerlikon’s core PVD [physical vapor deposition] coating competencies into applications in the luxury market,” its executive chairman, Michael Suess, commented.
Oerlikon’s headquarters in Pfäffikon, Schwyz. Credit: Oerlikon.
