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KARL MAYER Acquires Majority Ownership Of LIBA Maschinenfabrik GmbH

OBERTSHAUSEN, Germany — November 26, 2013 — On January 1, 2014 KARL MAYER will acquire the majority of the ownership of LIBA Maschinenfabrik GmbH, which in the future will be integrated into the KARL MAYER group.For decades KARL MAYER and LIBA have been the leaders in the development, manufacturing and distribution of warp knitting machines and machines for the production of technical textiles.

Both involved parties are convinced that with the combined high level of technical knowledge of the two companies, the long term market leadership of German warp knitting machine manufacturing will be ensured. To utilize the joint strengths, measures will be taken immediately to work on a fast integration of the two companies. Until then the business activities on both sides will continue without changes, especially in regard to products and market coverage.

The president and owner of LIBA Maschinenfabrik GmbH, Karlheinz Liebrandt will continue to hold shares of the company. He will also keep his position as spokesperson of the company management. Marcus Kube is added to the management of the company from KARL MAYER's side. There is agreement with Karlheinz Liebrandt that the Naila operation will remain as a high technology location.

KarlMayerLiba
(left to right): Arno Gärtner, CEO, KARL MAYER; Karlheinz Liebrandt. president, LIBA; Fritz P. Mayer, member of KARL MAYER's Supervisory Board; Thomas Liebrandt, president, LIBA; and Helmut Preßl, Ph.D., CFO, KARL MAYER.

Posted November 26, 2013

Source: Karl Mayer

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