SWITZERLAND: Rieter to acquire textile components business unit, Berkol

BERN: A Swiss-based industrial group with activities in all regions of the world, Rieter Group is all set to acquire Berkol, the textile components business unit of Switzerland-based Huber+Suhner AG. The acquisition for an undisclosed price would be effective from 1st January 2008.

The acquisition includes the Berkol business, employees and trademark rights. Berkol will be integrated into Switzerland-based Bräcker AG, a company within Rieter’s Textile Systems Division, for the purpose of expanding the division’s technology components product offerings.

On the occasion, Urs Kaufmann, CEO, Huber+Suhner commented that the sale of the Berkol unit to Rieter offers Berkol the best basis for continuing and sustaining its development as part of the core business of a worldwide active, leading Swiss group.

Going forward, Huber+Suhner will focus on its core business of providing electrical and optical connectivity solutions.

Berkol designs and manufactures cots and aprons for spinning machines, and equipment and machinery to service and maintain such components. Bräcker is a manufacturer of ring travelers and spinning rings for ring-spinning machines, and employs some 75 people. The two companies serve the same global market.

Rieter is a leading supplier of products and services for the textile, automotive and plastics industries. Rieter’s worldwide workforce totals approximately 14,800 employees. The group comprises two divisions: Rieter Textile Systems and Rieter Automotive Systems. Both divisions are world market leaders in their respective market segments.

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Added: November 13, 2007 Source: Agencies.
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