Itema Taking Over Schoch Group

Itema announced a takeover of the Schoch Group.

Headquartered in Ranica, Bergamo Province, Italy and in India, Schoch is a leading producer of loom accessories including reeds and other components.

The operation is part of the Galaxy project, an extensive strategy Itema launched in 2017 with the target to integrate, through strategic diversifications across the entire textile supply chain, key expertise and resources for the development of loom components.

Following the acquisition of the majority stakes in Lamiflex completed in 2017 and the recent agreement reached with PTMT (ex Panter), the agreement signed with the Schoch Group represents a further significant step toward synergic development of key loom accessories, as well as a remarkable reinforcement of the Schoch commercial network.

The operation formalities will be completed by the end of September.