Itema S.p.A. announces the agreement for significant stakes in Schoch

Itema, multinational company part of Radici world of companies manufacturing advanced weaving solutions including weaving machines, spare parts and integrated services, announced on September 19th that the company has signed the agreement for the taking over of Schoch group.

Schoch, headquartered in Italy (Ranica, Bergamo Province) and in India, is a leading producer of weaving accessories, including reeds and other components.

After the signing ceremony

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

Following to the acquisition of majority stakes in Lamiflex completed in 2017 and the recent agreement reached with PTMT (ex Panter), the agreement signed with Schoch group represents a further significant step for the synergic development of key weaving machine’s accessories as well as a remarkable reinforcement of Schoch commercial network.

Itema is a leading global provider of advanced weaving solutions, including best-in -class weaving machines, spare parts and integrated services. The Company is the only manufacturer in the world to provide the top three  weft  insertion  technologies:  rapier,  air  jet  and  projectile,  with  an  ample  product  portfolio  and  a  commitment  to  continuous  innovation  and  technological  advancement  of  its  weaving  machines. The Company is also unique in its sector with two R&D units, of which one – ItemaLab – is dedicated entirely to breakthrough  innovations.  Part of Radici  world  of  companies,  the  60 %  of  Itema is held by Gianni Radici’s  family heirs (the siblings Angelo, Maurizio, Paolo, Maria Grazia and Bruna) and 40 % by the Arizzi and Torri families.

www.itemagroup.com

Schoch has been founded by Alfredo Schoch in 1907 in Ranica, Bergamo Province. Son of a Swiss reeds manufacturer,  Alfredo  Schoch  sets  up  his  business  in  Italy  and  carries  on  the  family’s  entrepreneurial  vocation.  Over  the  years,  Schoch  installs  in  its  plant  the  most  advanced  manufacturing  technologies to constantly guarantee its products renowned superior quality.Key  milestone for  the  company  development has been  the  establishment of Schoch Reeds India in  2009,  that ensures to increase and reinforce the strategic presence on the Indian market. For over  a  century  Schoch  is  for  the  weaving  industry  synonymous  with  efficiency  and  quality  in  the production of reeds and accessories for textile looms.

www.itemagroup.com

www.schoch.it