Saurer sells its embroidery business to Lässer

The embroidery business unit of Saurer Intelligent Technology AG has been taken over by Lässer Holding AG, the shuttle embroidery machine manufacturer based in Diepoldsau, St Gallen, Switzerland. The majority of employees was taken over. The transfer of operations will be completed by end May 2022.

This step represents a consolidation of the two market leaders in the production of shuttle embroidery machines. Lässer is a family-owned company and was founded in 1954. Saurer developed the first shuttle embroidery machine as early as 1878.

In this asset deal, all the assets and contracts allocated to the embroidery business will be transferred to Lässer Holding AG. "We are confident that with the newly combined knowledge, Lässer will lead the industry to sustainable success. We believe we have found the best solution for both our customers and employees with this measure," explains Anton Kehl of Saurer Intelligent Technology AG. "While this decision was not easy for us, we are positive about the future of the shuttle embroidery market in this new configuration."

Lässer has its headquarters and production facility in Diepoldsau along with a further 12 sites worldwide, including in Turkey, India and Thailand.

Franz Lässer, co-owner and chairman of the board of directors of Lässer Holding AG, says: "As a proud Swiss company, it made sense for us to join forces with another well-known name in the industry. With this step, we are pooling more than two centuries of knowledge and look forward to continuing to inspire our customers around the world with innovative developments."

For customers, the retention of employees ensures that the Saurer embroidery machines will be optimally supported and maintained in the future.

About Saurer Group

The Saurer Group, founded in 1853, is a leading, globally active technology company with a focus on machines and components for yarn production. As a company with a long tradition, we have always been an innovation leader. Today, the group is a solution provider for the textile industry consisting of two segments. Spinning Solutions offers highquality, technologically advanced and customer-specific automated solutions for staple fibre processing from bale to yarn. Saurer Technologies specialises in intelligent and economical twisting and cabling machines for tire cord, carpet, staple fibre, glass filament and industrial yarns, which allow customers to adapt flexibly to dynamic market requirements. With around 4 000 employees, the Saurer Group, with locations in Switzerland, Germany, Turkey, Brazil, Mexico, the USA, China, India, Uzbekistan, and Singapore, is well equipped to serve the world's textile centres. Saurer is listed on the Shanghai Stock Exchange (WKN: 600545). www.saurer.com.