Sankt PÃ¶lten, Austria -Â The Austrian rayon yarn-maker, Glanzstoff Group has bought the Italian fabric converter, Sicrem from the Radici Group. Sicrem, which was until 2001, part of the IVG Colbacchini group, makes dipped cord and fabrics used in the tyre and industrial rubber goods sectors.
In 2006 Sicrem, based in Pizzighettone, Italy, reported total sales of â‚¬ 62.6 million and employed 129. The company processes nylon 6,6, polyester, aramid and rayon yarns.
Sicrem's new chairman, Dieter Kirchnopf, said, "â€œThe acquisition of Sicrem SpA by CAG-Holding GmbH-parent company of [Glanzstoff Group]-fits into our current plan of strengthening and concentrating our businesses in the yarn and technical fabrics sector, primarily the tyre segment."
Kirchnopf continued, "We intend to strengthen Sicrem SpA, by continuing production in Pizzighettone and making targeted investments to improve the site's technology and resources. We want the company to become a centre of excellence in the tyre and mechanical rubber goods sectors of the global technical components market."
Glanzstoff already converts its yarns into cords and fabrics at its facility in Steinfort, Luxembourg, but the acquisition adds to the company's capacity and range of base materials. Glanzstoff supplies yarn, cord and dipped fabrics to tyre makers and industrial rubber goods makers throughout Europe.
Glanzstoff Group, part of CAG Holding GmbH, specialises in the production of high-tenacity rayon and synthetic yarn and has three production sites in Austria, the Czech Republic and Luxembourg with 1100 employees. The group's 2006 consolidated sales revenue was â‚¬ 200 million.
Apart from tyres, dipped fabrics are used to reinforce hoses, airsprings, conveyor belts and other goods.
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Website of Glanzstoff (Austria)