World textile market leader Saurer Textile has acquired Grap Group.
By acquiring Graf Group, Saurer continues in its strategy of strengthening its spare parts and service business. Saurer? Total Solution offer is thus extended to include solutions for carding and combing machines.
Saurer signed a purchase contract to acquire 100% of the share capital of Hogra Holding AG, the parent company of Graf Group. The acquisition is expected to be completed in fall 2005.
Hogra Holding AG, domiciled in Freienbach/Switzerland, is wholly owned by Ralph A. Graf, the company? CEO. No disclosures are being made on the purchase price.
In 2004, Graf had sales of approx. EUR 60m with 590 employees. The two largest production sites are in Rapperswil/Switzerland and in Enschede/Netherlands. In Switzerland, Graf Group has approx. 200 employees.
Graf produces card clothings and service machines for flat cards, roller cards and raising machines. The product portfolio thus covers both the traditional spinning business and the field of nonwovens. All types of short, medium and long staple fibers can be processed on the relevant equipment.
About 30% of the company? sales are made with OEMs (textile machine manufacturers) and about 70% directly with spinning mills. As well as the pure service business (mounting/grinding the clothings), replacement clothings and service machines are delivered to the spinning mills.
Graf Group ideally complements Saurer? portfolio, as sales are more stable in the component business than the textile machinery and plant business. Deliveries to spinning mills, in particular, allow consistent turnover volumes with attractive margins and are fairly independent of textile cycles.
