Chemnitz, Germany, September 12, 2023 - St. Tony(Shanghai) Knitting Machines Co., Ltd. which is wholly owned by the Ronaldi family of Italy, has announced the acquisition of Terrot, a leading manufacturer of circular knitting machines based in Chemnitz, Germany. This move is intended to accelerate the realization of Santoni Shanghai's long-term vision to reshape and strengthen the circular knitting machine industry ecosystem. The acquisition is currently underway in an orderly manner.
According to a report released by market research firm Consegic Business Intelligence in July this year, the global circular knitting machine market is expected to grow at a compound annual growth rate (CAGR) of 5.7% from 2023 to 2030, driven by consumers' increasing preference for breathable and comfortable knitted fabrics and diversifying demand for functional knitwear. As a world leader in seamless knitting machine manufacturing, Santoni (Shanghai) has grasped this market opportunity and formulated the strategic goal of building a new knitting machine industry ecosystem based on the three major development directions of innovation, sustainability and digitalization; and seeks to further strengthen the synergistic ecological advantages of integration and scaling through the acquisition to help the global knitting machine industry develop in a sustainable manner.
Mr. Gianpietro Belotti, Chief Executive Officer of Santoni (Shanghai) Knitting Machinery Co., Ltd. said: "The successful integration of Terrot and its well-known Pilotelli brand will help Santoni to expand its product portfolio more quickly and efficiently. Terrot's technological leadership, broad product range and experience in serving customers worldwide will add to our strong knitting machinery manufacturing business. It is exciting to work with a partner who shares our vision. We look forward to building a ground-breaking industry ecosystem with them in the future and delivering on our promise to provide new knit manufacturing services to our customers."
Founded in 2005, Santoni(Shanghai) Knitting Machinery Co., Ltd. is based on the technology of knitting machinery, providing customers with a full range of innovative knitting manufacturing products and solutions. After nearly two decades of organic growth and M&A expansion, Santoni (Shanghai) has actively developed a multi-brand strategy, with four strong brands: Santoni , Jingmagnesium, Soosan, and Hengsheng. Relying on the strong comprehensive strength of its parent company, Ronaldo Group, and combining the newly added Terrot and Pilotelli brands, Santoni(Shanghai) aims to reshape the ecological pattern of the global new circular knitting machine industry, and continue to create outstanding value for end customers. The ecosystem now includes a smart factory and supporting facilities, a Material Experience Center (MEC), and an innovation lab, pioneering C2M business models and automated textile manufacturing solutions.
Post time: Feb-27-2024