The Competition Commission of India (CCI) has approved the acquisition of OC Oerlikon Textile Holding AG and Oerlikon Textile Inc. by Rieter Holding AG and Rieter North America Inc.
This deal gives Rieter sole control over the acquired companies.
Headquartered in Switzerland, Rieter Holding AG is a global manufacturer of textile machinery and components. Listed on the Six Swiss Exchange, the company develops and produces systems used to convert staple fibers like cotton into yarn.
Collectively known as Targets, the acquired companies specialize in spinning systems for making filaments and man-made fibers, texturing machines and non-woven solutions.
The Targets operate under the well-known brands Oerlikon Barmag, Oerlikon Neumag, and Oerlikon Nonwoven.
