Benninger AG takes over Küsters Textile GmbH

Benninger AG takes over Küsters Textile GmbH in Zittau (D) with the subsidiaries Küsters Far East Ltd. in Hong Kong and Küsters Shanghai Co. Ltd. (China)

Benninger AG has acquired Küsters Textile GmbH, the German supplier of wet finishing plants for the textile industry with head office in Zittau and subsidiaries in China, with retroactive effect backdated to 1.1.2007. Küsters will be integrated in the manufacturing network of the Benninger Group. The existing production site in Zittau will continue to produce textile machinery.

This will make the Benninger Group the market leader for the production of wet finishing plants, and it will provide the group with an excellent global platform for tackling future challenges in the machinery industry.

Customers of Küsters and Benninger will be able to rely on a strong partner who will not only continue to make every effort to supply innovative machine systems and processes which deliver the ultimate in terms of quality and reliability, but who will also continue to provide excellent customer service.

This acquisition marks a further successful step in Benninger's international expansion strategy.

Daniel Hirschi, CEO of Benninger AG, believes that this acquisition offers key advantages for the group: "With this acquisition we will attain an excellent market position which will enable us to further improve our efficiency towards our customers”. He adds: “The synergies we will be able to exploit as a result will contribute to put Benninger in a 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.

Background information about the Benninger Group:

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. Since it was originally founded in 1859, the Benninger Group has evolved into a capable and efficient company in the field of textile machinery construction. 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.
www.benningergroup.com

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