JEFFERSON, Ga. — March 22, 2017 — Switzerland-based Hermann Bühler AG has successfully completed the sale of its US subsidiary, Buhler Quality Yarns Corp., to South Korean Samil Spinning Co. Ltd., as of March 20, 2017. The transaction is structured as an 100-percent all-cash share-deal, with a final closing expected by the end of April 2017. Both companies have agreed not to disclose further details of the transaction.
As a key player in the North American yarn market, and with a well-established international distribution network, Buhler Quality Yarns will provide Samil Spinning a Western Hemisphere manufacturing base via Buhler’s spinning facility in Jefferson, Ga. This highly valuable strategic addition broadens Samil Spinning’s global footprint, further establishing its business in the U.S. market and increasing its client portfolio. Samil will build on Buhler’s full product portfolio through targeted investments in the Jefferson facility.
Posted March 23, 2017
Source: Buhler Quality Yarns Corp.