Germany-based Terrot GmbH, a leader of circular knitting machine manufacturing, has taken over the operational business of the insolvent PILOTELLI Macchine Tessili S.r.l., based in Cazzago San Martino (Brescia) by signing the corresponding contract today at a notary in Milan with the receiver in insolvency Dott. Flavio Rada.
Terrot is currently a leading force in the production of electronically and mechanically controlled circular knitting machines worldwide, while the Italian builder Pilotelli is especially known for its expertise in single-jersey technology and well-established global reputation therefore with strong markets in Turkey and South America.
The acquisition has come about in order to meet Terrots growth strategy. At the same time it opens up new vistas for Pilotelli to recover its business from financial struggles in recent years. Terrot examined thoroughly the options and consequences which go along with this strategic step. The production on the site in Cazzago San Martino will be continued.
The Terrot group will be managed by its owners Peter Sch? and Andreas von Bismarck together with the management team from Terrot and selected people from former Pilotelli under the structure of the Terrot Italy S.r.l. Also the members from the Pilotelli family are part of the new organisation in sales, technical advisory and administration.