# China Hi-Tech Group acquires Oerlikon nonwovens carding business

China Hi-Tech Group (CHTC) signed a pre-closing agreement to acquire Oerlikon's nonwovens machinery carding business unit, including assets of Autefa Automation GmbH in Germany and shares of Oerlikon Neumag Austria GmbH. The deal is expected to close in Q3 2018.

- Type: Acquisition
- Announced: 2018-08-08
- Where: Germany and Austria, Germany
- Status: announced
- Products: nonwovens carding machinery, automatic control systems, short-fiber balers, needle-punching lines, wool carding systems
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md), [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Oerlikon](https://endata.com/companies/7876.md) (target)
- [China Hi-Tech Group Corporation](https://endata.com/companies/17356.md) (acquirer)
- [Autefa Automation GmbH](https://endata.com/companies/35511.md) (target)
- [Oerlikon Neumag Austria GmbH](https://endata.com/companies/35512.md) (target)

## Sources

- [tex-asia.com](http://www.tex-asia.com/mobile/news/201811/16/39593.html), 2018-11-16: "此次收购和中国恒天集团的战略经营目标相一致，是我们持续全球化发展的重要一步"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.