Rieter to acquire Barmag from OC Oerlikon for CHF713m.

Rieter, a supplier of installations for manufacturing yarns from short-staple fibers, agreed to acquire Barmag, a manufacturer for manmade fiber spinning systems and texturing machines, from OC Oerlikon, a materials and surface solutions provider, for CHF713m. “We are very proud to welcome Oerlikon Barmag, Oerlikon Neumag and Oerlikon Nonwoven to Rieter. We are convinced that this combination will form a market leader in the textile industry which will create value for our shareholders, customers and employees,” Thomas Oetterli, Rieter CEO.