Chinese supremacy continues in sewing technology with SGSB group successfully concluding the share purchase agreement with PFAFF INDUSTRIAL, the German pioneer of sewing automates. Cornelia Mast, Board member PFAFF INDUSTRIAL and Zhang Min, Chairman of the Board SGSB Group Co. Ltd. concluded the share purchase agreement during a signing ceremony.
The company promised to continue the already initiated restructuring process at PFAFF INDUSTRIAL with what is in their view the best partner and investor. Based on the new owner’s competence and experience and coupled with PFAFF INDUSTRIAL’s successful products in the field of industrial sewing and welding technology both parties will present a revived PFAFF INDUSTRIAL in markets worldwide.
The message to the market and the customers is clear: With a strong owner by their side, PFAFF INDUSTRIAL will remain an innovative and reliable partner for the textile industry and further strengthen and expand their position as a solution provider.
