Benninger acquires Küsters Textile GmbH

Switzerland-based weaving preparation and wet finishing machinery producer Benninger AG has acquired Germany-based wet finishing and dyeing machinery manufacturer Küsters Textile GmbH - a deal that includes subsidiaries Küsters Far East Ltd., Hong Kong, and Küsters Shanghai Co. Ltd., and is retroactive to the beginning of 2007. The price of the transaction will not be disclosed and is still subject to approval by antitrust agencies in Europe.

Benninger plans to integrate Küsters manufacturing activities into those of its own, and will continue to operate the Küsters manufacturing facility in Zittau, Germany.

“With this acquisition, we will attain an excellent market position, which will enable us to further improve our efficiency towards our customers,” said Daniel Hirschi, CEO, Benninger. “The synergies we will be able to exploit as a result will contribute to put Benninger in an even better position regarding global competition.”

Küsters is one of the leading suppliers worldwide of wet finishing plants for the textile industry. The company was founded in 1949. Küsters has a particularly strong position in the area of dyeing. With around 180 employees, Küsters achieved a turnover of around EURO 22 million (around CHF 35 million) in 2006. Both parties have agreed not to disclose the price of the transaction. The planned acquisition is still subject to approval by the relevant antitrust agencies.

Benninger is an international group of companies with its head office in Uzwil (CH) and subsidiaries in Germany, Italy, Russia, China and India. The group employs around 650 employees and achieves an annual turnover of approx. CHF 220 million. With a current manufacturing portfolio which includes weaving preparation and textile finishing plants, Benninger can supply the machinery required to cover all processes in weaving preparation and wet finishing. This enables Benninger to draw maximum benefit from synergies in process control and maximise coordination between the different areas. Tyre cord impregnation plants and the Benninger Automation Division complete the range of products and services on offer.

In order to best meet the needs of the group's international clientele, Benninger has established a worldwide sales and service organisation with regional sales offices and service departments in Italy, Germany, China, India and the USA, as well as additional service departments in the Benelux countries, Portugal, Spain, Turkey, Mexico, Brazil, Pakistan, Thailand, Indonesia and Russia.