Oerlikon announced that the company would continue to align their Manmade Fibers Segment product portfolio with the future of innovative Industry 4.0 plant solutions, putting greater focus on their core business of filament, staple fiber and nonwovens.
As a result, the corporate group will divest their technology solutions for tape and monofilament plants. The Austrian Starlinger Group based in Vienna will take over the German business unit in Chemnitz, also known under the brand name ‘Barmag Spinnzwirn’.
The purchase contract was signed accordingly by both companies this week. The final closing is planned for the end of the third quarter of this year.
Both parties have agreed not to disclose the purchase price.