Rieter acquired the 3 businesses Schlafhorst automatic winder, Accotex and Temco from Saurer to Rieter. With this acquisition, Rieter will complete the offering of ring and compact spinning systems by acquiring the Schlafhorst automatic winder business.
Congratulations of your takeover of Schlafhorst, Accotex and Temco. Could you briefly tell us about the joint company philosophy in relation to the 3 Saurer businesses?
Thanks. I wish to begin by expressing my gratitude for your good wishes. And, as you can imagine, we are very happy that we have been able to take over the 3 businesses.
Let me start with the strategic rationale of the first portion of this acquisition, the completion of the ring and compact systems of Rieter with the automatic winder from Schlafhorst.
Ring and compact spinning are the biggest segment in the market. Rieter is strong in this segment, but our offering was not complete the way it is in rotor spinning and in air-jet spinning: the last step in the process “from bale to yarn” was missing. And this is why it is so important that we were able to acquire this business.
Let me elaborate on to the strategic rationale of the 2 attractive components businesses that we acquired.
The first one is Accotex, a premium brand in the segment of cots and aprons. The company brings with it both an attractive OEM business and a wear and tear business. It is a very good fit for the Rieter components business. We do not have that business today, only very small activities in the cots and the apron segment. The acquisition helps us to further improve our market position in ring and compact spinning.
The second one is Temco, a company that operates in the filament business. You know that we made our first attempt to go into this market with the acquisition of SSM and they are active in the filament business as well. And now we have added a second component business which is very attractive. What they offer is bearing solutions and texturing components for filament machines. Here, too, we have acquired an attractive OEM and a wear and tear business.