Oerlikon divests single-head embroidery machines business

摘要

Oerlikon has divested its Textile Segment's Melco business to a newly established Melco International LLC, a subsidiary of the US-based Mizar Holding Company. The parties have agreed not to disclose the sales price of the deal, but Melco's staff of roughly 50 employees will be retained and transferred with the business. Melco produces specialised single-head embroidery machines primarily for non-industrial customers. Michael Buscher, Oerlikon CEO, said: "The divestment of Melco represents another step in our efforts to refocus our portfolio toward areas with volume and growth potential.