Oerlikon Neumag Sale of carding nonwoven machinery business to Chinese Hi-Tech Group

摘要

The machinery company Oerlikon Neumag, Neumuenster/Germany, signed an agreement to sell its carding nonwovens machinery business to the Zhengzhou Hi-Tech Non-woven Technology Co., Ltd, PR China, a subsidiary company of the Chinese Hi-Tech Group (formerly China Hengtian Group Co., Ltd.), one of the leading textile technology groups in China. This transaction is expected to close in the 3~(rd) Quarter 2011. In the technological field of carding machinery, Oerlikon Neumag produces special installations and components for nonwovens production, employing about 250 people at 3 locations in Germany, Austria and Italy. In the past Oerlikon Neumag and Hi-Tech Group have cooperated successfully in selected card- ing business opportunities by complementing high technology competences of Oerlikon Neumag with certain products of the Hi-Tech Group. Within the next 3 years after the acquisition, Hi-Tech Group will make more investments into European locations to enrich the R&D ability and will reduce costs by optimizing resource allocation worldwide. After the acquisition, the carding unit will be an independent business division and continue its dedication to the traditional markets as a base for high technology products.