COMPANY INVESTMENT

ITEMA ACQUIRES SCHOCH AND INTEGRATES KEY COMPETENCES FOR A COMPREHENSIVE AND MUTUALLY REINFORCING DEVELOPMENT

In October 2019, Itema announced the signing of the agreement for taking over Schoch group. Schoch, headquartered in Italy and in India, is a leading producer of weaving accessories, including reeds and other components founded by Alfredo Schoch in 1907 in Ranica, Bergamo Province. Son of a Swiss reeds manufacturer, Alfredo Schoch set up his business in Italy and carried on the family’s entrepreneurial vocation. Over the years, Schoch installed in its plant the most advanced manufacturing technologies to constantly guarantee its products renowned superior quality.

Key milestone for the company’s development has been the establishment of Schoch Reeds India in 2009, that ensured continued growth and that reinforced the strategic presence on the Indian market.
For over a century Schoch has represented for the weaving industry synonymous with efficiency and quality in the production of reeds and accessories for textile looms.

The acquisition is part of the Galaxy project, the wider strategy of Itema launched in 2017 with the target to integrate, through strategic diversifications across the whole textile supply chain, key expertise and resources for the development of weaving machines components.

Following to the acquisition of majority stakes in Lamiflex completed in 2017 and the recent agreement reached with PTMT (ex Panter) – that led to the establishment of Itematech -, the agreement signed with Schoch group represents a further significant step for the synergistic development of key weaving machine’s accessories as well as a remarkable reinforcement of Schoch commercial network.

Itema and Schoch, which already have a long-lasting history of collaboration – just think about the innovative joint development of iREED® – will from now on implement and design with no limitations future-oriented weaving solutions to further enhance Itema weaving machines performances and the Itema worldwide commercial network will act as a fundamental launch pad to increase Schoch products distribution and presence in the market.