The details of the merge were revealed by Karl Mayer in a statement this morning. The news follows the announcement at the end of February that the warp knitting machinery leader would buy Reutlingen based Stoll in an unprecedented deal.
It was stated by Karl Mayer that with the so-called closing, the merger of the two world market leaders, Karl Mayer and Stoll, was officially completed on 1 July 2020. The relevant agreements were signed on 26 February 2020, thus, setting the course for the formation of a trans-technology global player, who changes the world of its customers and of the textile sector.
Karl Mayer is now the leading provider of solutions for the two most important stitch-forming processes, flat knitting and warp knitting. The company’s entire expertise in the fields of warp knitting, flat knitting as well as technical textiles, warp preparation for weaving and digital solutions is now housed under one roof.
Stoll will continue its activities within the Karl Mayer Group as autonomous business unit. The brand will be carried on independently and represent Karl Mayer’s expertise in the field of flat knitting technology. Karl Mayer also relies on Stoll‘s proven management. The previous CEO, Andreas Schellhammer, will become President of the Stoll business unit within the Karl Mayer Group.
When it comes to the manufacture of products for warp knitting, warp preparation for weaving and the areas of technical textiles, Karl Mayer is innovative market leader with more than 2300 employees worldwide. Stoll, the international sector leader with roughly 1000 employees, stands for progressive tools and services for tomorrow’s knitting, the company said.
One of the main aims in production is to increase the added value for more know-how protection, flexibility and rapid delivery. Components from own production will be used groupwide, if possible, and the manufacture of the Stoll machines in China will be integrated into Karl Mayer’s location in Changzhou. With a surface area of 90,000 square metres and modern factory units, the Chinese plant is said to offer the perfect conditions for continuing Stoll’s high-quality production. The integration project is said to be running smoothly despite the highest complexity and the coronavirus pandemic.
“The teams from Stoll and Karl Mayer are full on schedule. They cooperate closely and extremely dedicated, they complement each other’s strengths, and successfully live the merger,“explains Andreas Schellhammer.
Additionally, Karl Mayer explains, via their familiar contact partners, Chinese customers can rely on the resources and organization of Karl Mayer (China) in the fields of service and spare parts. Spare parts are manufactured in-house, stored in larger quantities, and dispatched directly from ‘China to China’. This ensures shortest delivery times.
In terms of digitalisation, the Group says the know-how merger raises expectations for innovation leaps with advantages for the customers and effects on the entire textile industry. Karl Mayer‘s KM.ON is a highly agile software start-up, that uses the potential of cloud-based concepts and of artificial intelligence for completely new digital solutions. Stoll offers many years of experience in the software section. “Together it will be possible to accelerate digital product developments enormously,” Karl Mayer concludes.
Reference:
https://www.karlmayer.com/en/news-and-media/news/karl-mayer-buys-stoll-a-new-strong-brand-in-the-karl-mayer-group/
Industry, K. (n.d.). Merger details revealed as Stoll officially joins Karl Mayer Group. Retrieved July 1, 2020, from https://www.knittingindustry.com/merger-details-revealed-as-stoll-officially-joins-karl-mayer-group/
