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Vandewiele agreed to acquire Savio Group, a company in the yarn finishing sector, from private equity firm Alpha. Financial terms were not disclosed.
Alpha Private Equity has reached an agreement to sell 100% of Savio Group to Vandewiele, a Belgian textile machinery group. Financial terms are not disclosed. The transaction is expected to close in spring 2021.
Egypt's Holding Company for Cotton, Spinning & Weaving signed the first phase contracts worth $270 million for the supply of modern textile machines from seven Swiss, German, and Italian companies. The machines are to be delivered during 2020-2021.