Saurer Gains Majority Share In Autefa Automation
Switzerland-based Saurer Management AG has acquired a 51-percent stake in Autefa automation GmbH, Germany, from the Neuenhauser Group, also based in Germany. The acquisition is contingent upon approval by the Federal Monopolies Commission.
Autefa automation, with annual sales of 30 million euros and a workforce of 90 employees, manufactures packaging plants and automation solutions for fiber production and processing. Its product segments are now handled through Neumag, Saurer's Germany-based nonwovens subsidiary.
According to Saurer, the acquisition expands its capabilities to supply total solutions not only
in the nonwovens area, but also in the man-made fiber production area.