Terrot GmbH of Germany, a leader in circular knitting machine manufacturing, has taken over the operational business of the insolvent Pilotelli Macchine Tessili S.r.l., based in Cazzago San Martino (Brescia) by recently signing the corresponding contract at a notary in Milan with the receiver in insolvency Dott. Flavio Rada.
Terrot is currently a leading force in the production of electronically and mechanically controlled circular knitting machines worldwide, while the Italian builder Pilotelli is known for its expertise in single-jersey technology and well-established global operations with strong markets in Turkey and South America.
The acquisition has come about in order to meet Terrot’s growth strategy. At the same time, it opens up new vistas for Pilotelli to recover its business from financial crisis in recent years. Terrot examined thoroughly the options and consequences which go along with this strategic step.
Production on the site in Cazzago San Martino will continue. The Terrot Group will be managed by its owners Mr. Peter Schüring and Mr. Andreas von Bismarck, together with the management team from Terrot and selected people from the erstwhile Pilotelli under the structure of the Terrot Italy S.r.l. Also, the members of the Pilotelli family are part of the new organization in sales, technical advisory and administration.
The Managing Director of Terrot, Mr. Andreas von Bismarck, has expressed his optimism about strengthening the portfolio with Pilotelli’s machinery and technology. “We expect noticeable benefits for our international customers in sales as well as aftersales services. Having good expertise in both companies, we will surely complement each other.”
The employees of Pilotelli have welcomed the engagement of Terrot and consider it a positive and consequent decision: “We are on common ground with a producer who is not less than equally experienced and motivated to invest in the future of textile machinery and innovative technology. Together we will be stronger”, they said.