Swiss SSM acquires Italian Giudici S.p.A.

Swiss SSM acquires Italian Giudici S.p.A.

The day before Christmas evening Swiss SSM Textile Machinery (yarn processing and precision winding) – a division of Schweiter Technology Group – acquired the activities of the Italian Giudici S.p.A., since over 50 years the false-twist air and air-covering texturising technology specialist (including assembly winding and rewinding as well as two-for-one twisting) for a price indication in the single-digit CHF million range and the deal should be concluded at the end of this month

Giudici’s yarn texturising technology complements the SSM air-texturising (thanks to the former acquision of Stähle-Eltex (Air Texturing)) know how and will enhance it’s already strong position in the chemical fibre processing industry. In 2010 Giudici achieved 2010 a turnover of CHF 10 million with around 40 people employed. The future sales activities will be taken over by SSM.

In 2011 it is expected that Schweiter’s group turnover will amount to CHF 799 million, in 2010 the figure was CHF 932 million and for 2012 the projections of financial experts are CHF 721 million and an operational result (EBITDA) of CHF 65 million (2011 estimated CHF 78.5).

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