Tesca and Willy Schmitz have announced that the two companies have closed a transaction whereby Tesca will acquire the business of Willy Schmitz and its operations, located in Germany.
Tesca, headquartered in Paris France, is a major supplier of automotive fabrics, value added textile parts and seating components. The company 3500 people and operates 22 facilities globally.
Willy Schmitz, headquartered in Monchengladbach, Germany is a major supplier of fabrics to the German automotive manufacturers, but also to other industries, including via its affiliated company Ogus. Willy Schmitz employs 150 people and operates in two facilities in Germany.
“The Tesca and Willy Schmitz businesses are very complementary in terms of customer interface and geography,” said Carl de Freitas, Tesca CEO. “Merging our activities will provide a broader more efficient platform to support our customers globally.”
“Tesca global footprint is an ideal asset to enable Willy Schmitz to support the needs of our historic customers with our products beyond their traditional markets,” said Markus Schmitz, owner and President of Willy Schmitz.
Financial terms of the transaction were not disclosed.
Source: Innovation in Textiles
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