Chinese Fong’s acquires German Monforts
By Virginia F. Bodmer-Altura
German Monforts Textilmaschinen GmbH & Co. KG, Mönchengladbach, has been acquired today by Hong Kong based Fong’s belonging since ITMA Barcelona to China Hi-Tech Group Corporation (CHTC)
Monforts is the world leader in the manufacturing of textile machinery, the specialist in finishing machine engineering for over 125 years. Monforts holds an Austrian subsidiary, Montex-Maschinenfabrik Ges.m.b.H, with a production site in St. Stefan. Totally Monforts employs 160 persons and holds a large number of patents. Monforts offers its customers tailor-made solutions and in the future sets to extend its innovation leadership to focus on technical textiles (see also TextileFuture News Personalities of yesterday)
Roland Hampel, Managing Director of Monforts underlines: Today’s announcement intensifies our long-standing cooperation with Fong’s and opens up new opportunities for the company. Innovation is the core of our daily activities and we look forward to strategically developing news business areas for our customers with our trusted and successful partners in China, especially in the area of Technical Textiles”.
There is already an existing joint venture since 1998 between the two companies under the name of Monfongs and the two companies have established a strong and successful partnership. A further milestone in their cooperation is the soon to be inaugurated “Textile machine factory of the future” planned in the Chinese city of Zhongshan.
The announced acquisition is subject to approval by the relevant authorities and the customary closing conditions. Possehl, the up to now owner of Montforts and Fong’s agreed not to disclose the financial terms of the transaction.
Alex Wan, CEO of Fong’s comments: Monforts and Fong’s fit together perfectly and it will considerably strengthen our international competitiveness which has set course for worldwide leadership and excellence in the textile machinery business”.
The press release does not mention if the takeover of all personnel of Montforts including the sales force is included.
The Monfort’s product program entails Montex Stenters, tailor made solutions for dyeing and finishing, hotflue (Thermex 6500 and 7000), shrinking technology (Monfortex, Toptex, Compactor), Technical Textiles (Techtex) with stretching ranges, flow through dryers, belt dryers, high temperature stenters, vertical dryers, finishing ranges, universal dryers, twin therm dryers, thermo-bonding ranges and coating lines serving the areas of glasfibre fabrics, light protection, tarpaulins, billboards, artificial leather, floor coverings, artificial grass, nonwovens, spacers and membranes. Further the successful Matex Eco Applicator. In addition the company offers upgrading and retrofitting programs for its products.
Monforts is a traditional highly innovative German company with of high standing in regard to quality and services.
With the acquisition of Montforts by Fong’s, respectively the Chinese ownership, Fong’s has landed a real coup in view to high technology serving various fields of application and this will extend dramatically Fong’s ranges and customer base.
The up to now ownership of Monforts, Possehl, is a foundation engaged in different industrial and other activities. The sale of Monforts came unexpectedly because so far Monforts the financial requirements for further enhancing the company was always available by the company’s own force or provided by the ownership. Monforts is one of the leading textile machinery manufacturer of the Lower Rhine area, and the company added a lot to the excellent reputation of this German area and has been sponsoring also scientific projects in the region. For the time being, the intentions of the new ownership in these respects are unknown. On the other hand, Fong’s is also sponsoring scientific projects in Hong Kong thus also a similarity of the two companies.
There was also no communication as to management changes intended. Since Fong’s has taken over other important European textile machinery manufacturers in the past, the Far Eastern company has an experience in integrating such companies in the group, but there is little known what the Chinese ownership of Fong’s is planning.
We feel sure that this acquisition will come firstly as another shock to the German region because it has lost already the headquarters of Oerlikon Textile, now residing in Shanghai (PRC) and many will fear a further brain loss in the region where partnership and cooperation is highly valued among the industrial companies. The production site will probably continue to exist, because of the German quality aspect and the celebrity of the Monforts brand.
We will keep you informed on further developments.