Transaction Completed — STOLL Was Transferred To KARL MAYER On July 1, 2020

OBERTSHAUSEN, Germany — July 1, 2020 — With the official closing, the merger of KARL MAYER and STOLL was completed on July 1, 2020. The relevant agreements were signed on February 26, 2020, thus, setting the course for the formation of a trans-technology global player, who changes the world of its customers and of the textile sector.

Karl Mayer now offers solutions for the two stitch-forming processes — flat knitting and warp knitting. The company’s entire expertise in the fields of warp knitting, flat knitting as well as technical textiles, warp preparation for weaving and digital solutions is now housed under one roof.

Karl Mayer manufactures products for warp knitting, warp preparation for weaving and the areas of technical textiles with more than 2,300 employees worldwide. Stoll, with roughly 1,000 employees, stands for progressive tools and services for tomorrow’s knitting.

Stoll will continue its activities within the Karl Mayer Group as autonomous business unit. The brand will be carried on independently, and represents Karl Mayer‘s expertise in the field of flat knitting technology. Karl Mayer also relies on Stoll‘s proven management. The previous CEO, Andreas Schellhammer, will become president of the Stoll business unit within the Karl Mayer Group.

“With Stoll‘s excellent know-how and committed staff, we can build on a good basis for further joint developments,” said Karl Mayer’s CEO Arno Gärtner. “Stoll and Karl Mayer complement each other perfectly in terms of technology, they consistently rely on the proximity to their markets, and they are the innovation leaders in their sectors. The merger offers the basis for new machine-based solutions, textile products and digital offerings, which will make a major contribution to strengthening our customers in their business environment.”

In the area of machine development, it is possible to use completely new technological principles but also optimizations of details, for example concerning the operation. For the development of new textiles, the customers can rely on broad, cross-sector expertise. They can benefit from the group’s entire textile-technological know-how in the fields of warp knitting and flat knitting with an even increased application-oriented focus. The customers‘ contact persons will remain the same.

One of the main aims in production is to increase the added value for more know-how protection, flexibility and rapid delivery. Components from own production will be used group-wide, if possible, and the manufacture of the Stoll machines in China will be integrated into Karl Mayer’s location in Changzhou. With a surface area of 90,000 square meters and modern factory halls, the Chinese plant offers the perfect conditions for continuing Stoll‘s high-quality production. The integration project runs smoothly, despite highest complexity and corona pandemic.

“The teams from Stoll and Karl Mayer are full on schedule. They cooperate closely and extremely dedicated, they complement each other’s strengths, and successfully live the merger,” Schellhammer explained.

Moreover, via their familiar contact partners, the Chinese customers can rely on the resources and organization of KARL MAYER (CHINA) in the fields of service and spare parts. The spare parts are manufactured in-house, they are stored in larger quantities, and dispatched directly from China to China. This ensures shortest delivery times.

In terms of digitalization, the know-how merger raises expectations for innovation leaps with advantages for the customers and effects on the entire textile industry. Karl Mayer‘s KM.ON is a highly agile software start-up, that uses the potential of cloud-based concepts and of artificial intelligence for completely new digital solutions. Stoll offers many years of experience in the software section. Together it will be possible to accelerate digital product developments enormously.

Posted July 1, 2020

Source: KARL MAYER Verwaltungsgesellschaft mbH