Oerlikon Textile: Higher machinery order intake

摘要

The substantial indebtedness resulting from the debt-financed acquisition of Saurer in November 2006 combined with the subsequent unprecedented downturn of the global economy in 2008 and 2009 have had a significant detrimental effect on the financial position of the technology Group Oerlikon Management AG, Pfaffikon/Switzerland. Oerlikon has now reached an agreement with its largest shareholder Renova and the lenders of the CHF 2.5 billion regarding a comprehensive financial restructuring.