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Chinese sewing machine maker takes over German peers

(Xinhua)
Updated: 2009-07-17 15:07

New Jack Sewing Machine Co Ltd, a Chinese private sewing machine supplier based in eastern China's Zhejiang province, have taken over two German counterparts, Bullmer and TopCut, company officials said on Friday.

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China Sewing Machinery Association said that the move was the first successful acquisition of overseas companies by a Chinese private sewing machine manufacturer.

The first successful offshore takeover by a Chinese state-owned sewing machine company occurred in 2005.

Company officials said New Jack Sewing Machine has taken over brandnames, technology, effective stocks and human resources of the two German firms at a cost of 45 million yuan ($6.61 million).

On the basis of the acquisitions, a new company named TopCut-Bullmer has been created, according to the officials.

The new company will establish a new management force and operation mechanism and make use of state-of-art technology from the two German firms and New Jack's resources in global clothing and textile industries.

Bullmer is a leading manufacturer of machines for the clothing and textile sectors. And TopCut focuses leather cutting systems.