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Reyes Groupe Acquires Swisstex France

France-based industrial company Reyes Groupe has acquired all the assets of SwissTex France S.a.s. -- a manufacturer of twisting, assembling, cabling, covering and winding machinery for technical and textile yarn markets, and formerly part of the SwissTex group also including SwissTex Winterthur AG, Switzerland. Going forward, Reyes will operate the company under the name Verdol. SwissTex France has been operating under a Chapter 11-type regulation of the French courts.

Reyes has worked with SwissTex for more than 25 years and is familiar with its products and expertise -- including brands such as Verdol, ICBT, Rieter ICBT and RITM. The new owner believes this knowledge will help it enhance Verdol's technological, commercial and financial strength.

"Verdol and its teams, which we renewed our confidence for the quality of work in recent years, will be able, given the new resources that we put now at their disposal, to bring you again a better service and remove the failures of the past," said Reyes Groupe CEO Christophe Reyes and Verdol General Manager Jean-Claude Gnonlonfoun, in announcing the acquisition.

May 8, 2012