Textilcolor AG acquires textile technology patents from Schoeller

(CONNECT) Textilcolor AG from Sevelen in the canton of St.Gallen has agreed a takeover deal for Schoeller Technologies AG. The subsidiary of Schoeller Textil AG, also based in Sevelen, holds the patents and trademarks of the technologies developed by Schoeller and was previously responsible for their licensing and marketing around the world, as Textilcolor explains in a press release. The purchase price for the acquisition has not been disclosed.

Textilcolor plans to integrate its new acquisition into its Brand Management business unit. The newly established business unit will be responsible for marketing the technologies under a Textilcolor brand identity, while Textilcolor will also seek to further develop and refine the technologies in a targeted manner.

“The acquisition is a consistent milestone in our long-term growth strategy”, as Detlef Fischer, CEO der Textilcolor AG, explains in the press release, adding that: “With Schoeller Technologies, we are not only gaining renowned technologies, but also a highly qualified team with unique expertise. The former COO of Schoeller Technologies AG, Hans Kohn, has been appointed as the new Head of Brand Management at Textilcolor. “Existing partnerships and customer relationships of Schoeller Technologies AG will be continued in the usual high quality within the established partner network and strengthened by the expanded possibilities of Textilcolor”, he states. ce/hs