New major shareholder at Swiss Schweiter Technologies

New major shareholder at Swiss Schweiter Technologies

The industrial conglomerate and textile machinery supplier has a new major shareholder and this might have a yet unknown effect on the future activities of the company

After 25 years in active management responsibility, Hans Widmer has reduced his financial engagement and let his operative responsibilities already in 2011. In 1986 Widmer invested only CHF 4 million to get control of Schweiter Technologies. Today KWE Beteiligungen, controlled by Beat Frey, has increased its shareholding from 11.62 % to 25.28 % by taking over 180000 shares of Hans Widmer, he was disposing before of 24.9 % of the shareholding capital and he has been selling half of it to KWE reducing the stake of Widmer to 12.5 %. Frey is profiting of a dividend of CHF12 for each share and takes also advantage from the around 80000 shares owned by the company. The investors will acquire one share free of charge against 18 old shares. According to local financial papers Frey does not intend to stock up his holdings further. He claimed that he knows the company’s strategy and the management and will beforehand not alter these relationships. It has to be seen if the new ownership is not leading to changes of the company’s activities.

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