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Gurit-Heberlein Group Acquires Electrotex AG

Through its Heberlein Fiber Technology Inc. subsidiary, Switzerland-based Gurit-Heberlein Group has purchased Electrotex AG, also based in Switzerland, for an undisclosed purchase price. It is expected the acquisition will push Gurit-Heberlein's fiber technology sales to an annual CHF 80 million, an increase of approximately CHF 8 million.

Electrotex is known for monitoring devices used in both man-made and staple fiber spinning. Heberlein and Gurit have worked together for many years, and it is hoped the merger will ensure easier adaptation of Heberlein and Electrotex technology, as well as streamlined customer service.

February 2004