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Saurer acquires Hogra Holding AG (Graf Group) |
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2005-7-7
Saurer signed a purchase contract to acquire 100% of the share capital of Hogra Holding AG, the parent company of Graf Group, according to Saurer''s press release on July 4. The acquisition is expected to be completed in the fall of 2005, however, no disclosures are made on the purchase price.
Hogra Holding AG, domiciled in Freienbach of Switzerland, is wholly owned by Ralph A. Graf, the company''s CEO.
In 2004, Graf had sales of approximately 60 million euros with 590 employees. The two largest production sites are in Rapperswil of Switzerland and in Enschede of Netherlands.
Graf produces card clothings and service machines for flat cards, roller cards and raising machines. The product portfolio thus covers both the traditional spinning business and the field of nonwovens. All types of short, medium and long staple fibres can be processed on the relevant equipment.
By acquiring Graf Group, Saurer continues in its strategy of strengthening its spare parts
and service business.
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