Saurer continues expansion
Switzerland-based manufacturer of systems for spinning, texturising, twisting and embroidery Saurer Textile is continuing its expansion through a number of acquisitions and joint ventures.
At the end of December, Saurer founded a joint venture together with the Chinese company Jinsheng for the manufacturing of program units for staple fibre equipment and components. Saurer holds a share of 70% in the joint venture. According to Saurer the joint venture will allow it to further accelerate the development of its mid-range and low-end segments for ring spinning machines in Asia.
Saurer also acquired 100% of the capital of Fincarde Group, based in Biella, Italy in December. Fincarde offers an entire fibre preparation process plus carding equipment for woollen and worsted processes and carded nonwovens. The company will be integrated in the nonwovens technology platform of the Saurer business unit in Neumag.
