Possehl Acquires Monforts

With effect from April 1st, L. Possehl & Co. mbH will acquire A. Monforts Textilmaschinen GmbH & Co. KG, based in M?nchengladbach, Germany. The acquisition is subject to the approval of relevant antitrust authorities.

Monforts Werkzeugmaschinen GmbH & Co. KG is not subject to the

The Monforts Textilmaschinen Group with 375 employees generates sales of about 110 million euro, and is a world market and technology leader in textile finishing machinery. Even after the acquisition, the company will continue to be based in M_nchengladbach.

Monforts has plants in Monchengladbach, Austria (WoIkersdorf, St. Stephan), Switzerland (Oberaach) and a joint venture in China (Hong Kong, Shenzhen). Exports account for over 90%, and worldwide distribution focuses on Asian growth markets.

Possehl intends to continue the highly successful joint venture with Chinese partner Pong's National Engineering Co. Limited in unmodified form.

Uwe L?ders, CEO of L. Possehl & Co. mbH, says, "As an independent business division, the Monforts Textilmaschinen Group can maintain its own identity, and has the opportunity to strengthen its market position and to further develop the company successfully in the long run."