Oerlikon Natural Fibers and Textile Component business becomes Saurer again

Economy

Oerlikon Natural Fibers and Textile Component business becomes Saurer again

The 160 years of Saurer history finds a continuation. The Chinese Investor Pan Xueping with its Jinsheng Group signed a purchase agreement for the acquisition of the entire natural fibre and textile components business of OC Oerlikon. The new Saurer Group will generate sales of CHF 1 Billion with 3800 employees. All employees and production sites in Europe, USA and Asia will be taken over. Continuity with focus on value for customers, innovation and employee development are the main focus of the new leadership team acting out of Europe and Asia.

Der Board of directors of the new Saurer Group will be composed of four European and three Asian members: Heinrich Fischer, Chairman (until 2007 CEO of Sauer, Chairman of Orell Füssli, board member at Hilti), Hans-Georg Härter (until 2012 CEO of ZF), Rudolf Huber (until 2005 CEO of Geberit, board member at Georg Fischer, chairman of Looser), Guido Spix (CTO Multivac), Pan Xueping (main investor and founder of Jinsheng Group), Jesse Guan (Head of CNC Machines Jinsheng Group).

The operations will be led by the current management team of the OC Oerlikon Natural Fibre and textile Components business. Daniel Lippuner (44), former CEO of the Component business will be appointed as CEO of the new Saurer Group. Prior to his six year experience at OC Oerlikon he worked eight years in different management positions at Hilti.

The Jinsheng Group is invested in four independent areas. CNC Machines with a 50% investment in the German EMAG Group whom they support in building up their Asian business, Cotton Spinning and Recycling, Real Estate and Diagnosis tests for HIV, alcohol and drugs. Through organic growth and selective acquisitions sales increased during the last twelve years to CHF 1 billion with now 5000 employees.

Mister Pan and his Jinsheng Group have been long-term business partners of Saurer and OC Oerlikon and have an in-depth knowledge of the textile industry. Their aim is to open a new successful chapter in the history of Saurer, to further strengthen with a long-term sustainable strategy the position as a leading textile machinery manufacturer and to satisfy the customer with first-class service and innovative products.