ITALY: Sultex G6300 Rapier Weaving Machine Business Goes To SMIT

Sultex, formerly Sulzer Textil Limited., says that it has complied with the European Commission's antitrust authorities ruling on its acquisition by Promatech.

The EU gave a conditional go-ahead for the deal provided that Promatech sell-off Sulzer's rapier machine operations. An EC investigation had concluded that the deal would have given Promatech a dominant position in Western Europe for rapier machines.

Sultex has now said that it will stop sales the Sulzer Textil G6300 rapier weaving machine from June 1, 2003. However, Sultex will commission all G6300 machines ordered before May 31, 2003, through its global service network.

In the future, the G6300 model will be sold and serviced directly by SMIT SpA Schio, Italy. All services and customer support activities will be continued at its well known, high quality level, says Sultex.

This decision has no implication on the Sulzer Textil G6200 rapier weaving machine manufactured at the plant in Zuchwil, Switzerland.

"Total Customer Satisfaction is the ultimate objective for Sultex. We therefore guarantee our comprehensive service package to all our customers," says Rolf Kehlhofer, CEO of Sultex. "Thanks to its well known product portfolio, and its excellent after sales service network, Sultex will be a leading partner for the world wide weaving industry," continues Kehlhofer.

He adds "with a brilliant result in 2002, a solid balance sheet, and now being a member of the ITEMA Group, I am confident that Sultex has a superb starting platform for a successful evolution to meet all our customer expectations with regard to products and services." -Agencies.

February 11, 2003

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Added: February 11, 2003
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