The Santex Rimar Group has announced that it has started acquisition of SMIT Textile, one of the world leading manufacturers of looms and weaving machines.
Ferdinando Businaro, Santex Rimar Group President, said: “SMIT Textile has deep roots in our territory and a strong heritage. Such technological know-how and committed human capital hit by the recent crisis deserves to keep growing. I firmly believe restarting companies is necessary to unlock new opportunities and to generate a condition of economic upturn in Italy”.
With the support of the Santex Rimar Group, SMIT Textile will be able to restart producing and supplying customers worldwide.
Stefano Gallucci, Santex Rimar Group CEO, said: In 2015 we achieved our ambitious objectives and today we are well prepared to further grow our business. This operation fits our five years strategic plan enabling the Santex Rimar Group to be a partner for our customers throughout their production processes, from loom to finished natural and technical textiles. One more chance for our customers to be competitive and successful”.
With this synergy between SMIT Textile and the Santex Rimar Group customers can rely on one integrated technology provider for all production processes, a global service network, high quality products, a partner with a profile financially sound and deep technological heritage and know-how.
The Santex Rimar Group is present in different countries with four factories and more than 10,000 customers throughout the world. With the Group local operations in China and India, SMIT Textile will immediately be closer to customers all over Asia.
Investments in the future aim to evolve SMIT Textile products leveraging on the Santex Rimar Group R&D Department, partnering with key customers and research institutes to meet their innovation needs.
SMIT Textile participated in ITMA 2015 in a big way.