The Italy-based Lonati family-owned and founded Santoni Shanghai Knitting Machinery Co., China, has announced plans to acquire Terrot GmbH, a Germany-based producer of circular knitting machines. The transaction is pending approval from Chinese regulatory authorities. The acquisition is part of Santoni Shanghai’s long-term vision to create an ecosystem that reshapes and consolidates the circular knitting industry.
“The integration of Terrot, which also includes the well-known Pilotelli brand, will bring an immediate and extraordinary boost to our products portfolio,”said Gianpietro Belotti, CEO of Santoni Shanghai.“Terrot’s incredible technical capabilities, extensive product range and vast experience in serving customers all over the world will enable us to better achieve our shared aspirations. We are very excited about this partnership and look forward to working with Terrot as we move towards establishing a pioneering industry ecosystem, realizing our mission to providing customers with an utterly new knitting experience.
“We see our machines not simply as isolated units of production, but rather as parts of a holistic and integrated ecosystem,” Belotti added.“Each part of this ecosystem is inter-connected with the entire industry chain, bolstered by our recent advances in digitalization and our century long expertise. The new synthesis will offer now the largest range of technical solutions available in the market, which we believe will enable us to satisfy the needs of all the investment levels. Through our partnership with Terrot, we are one step closer to fulling our vision of innovatively consolidating the entire industry.”