Vandewiele reaches deal to acquire Savio Group
Posted January 5, 2020
MILAN and BRUSSELS – Vandewiele announced that it has reached an agreement for the acquisition of 100% of Savio Group.
Savio Group consists of several textile machine companies, all trendsetters in their field, according to Vandewiele.
“We are extremely proud to welcome the Savio Group with its strong tradition and technology in our group,” said Charles Beauduin, CEO of Vandewiele. “The joining of our technological capabilities, R&D and industrial operations will allow us to grow strongly in the next few years.”
Adding the SAVIO organization to the Vandewiele Group will provide benefits to many of customers, he added.
"Receiving such strong interest from important players in this challenging period is a recognition of Savio's strategic value,” said Alexander Zschokke, chairman of the Savio Group. “In the longterm, being part of the Vandewiele Group will preserve our entrepreneurial culture focused on innovation, operational excellence and commercial development.”
Vandwiele develops, manufactures and assembles machines for BCF extrusion lines, carpet and velvet production, technical fabrics and finishing.
Savio is a world leader in the yarn-finishing sector, operating in the design, manufacturing and distribution of winding machines, quality control devices and electronic boards for the textile industry. It has factories in Italy, China, India, Belgium, Germany and Switzerland.