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21.06.2018

GSK Stockmann advises the Austrian Starlinger Group on the acquisition of Barmag Spinnzwirn from Oerlikon

The Viennese mechanical engineering company takes over the Chemnitz business unit as part of an asset deal.

Within six months, GSK Stockmann has advised the client Starlinger for the second time on a transaction in Germany. Completion should take place at the end of the third quarter of 2018.

“We are very pleased that our client Starlinger was chosen to acquire the assets of Barmag Spinnzwirn and that we were able to provide successful legal support during the negotiations. We have also involved colleagues from associated law firms in Austria, Turkey, USA and Switzerland in the international aspects of the acquisition.” says team leader Andreas Dimmling with regard to the transaction.

The unit of the Oerlikon segment Manmade Fibers, known as Barmag Spinnzwirn, specializes in ready-to-use extrusion plants for the production of ribbons and monofilaments such as artificial turf, harvest binding yarn, carpet base fabric or geotextiles, on high-speed winders and precision winding machines for textile and technical yarns and threads as well as on texturing machines. Approximately 165 employees work in Chemnitz.

Starlinger, based in Vienna with approximately 600 employees, is one of the world's leading suppliers of machines and complete plants for the production of woven plastic bags as well as plants for plastic recycling, PET extrusion systems for thermoforming sheets and PET refinement.

Angelika Huemer, the managing partner of Starlinger, is very pleased about the successful conclusion: “The takeover of Barmag Spinnzwirn means that we can expand our product range and offer even more individual solutions for manufacturers of technical textiles.” The Chemnitz location remains and becomes part of the family-owned Starlinger Group.

Oerlikon, a listed company with headquarters in Switzerland, is a leading global technology and engineering company and employs around 15,000 people at 186 locations in 37 countries.

Advisor Starlinger:
GSK Stockmann: Andreas Dimmling (Lead), Dr. Andreas F. Bauer, Dr. Marcel Vietor (all Corporate), Dr. Philipp Kuhn, Wolfgang Böhm (both Employment), Dr. Maximilian Schilling (Real Estate), Dr. Petra Eckl, Dr. Dirk Koch (both Tax), Dr. Wolfgang Würfel (Public Sector); Associates: Leonie-Isabelle Raymann von Loefen, Daniela Riedinger (both Corporate), Dr. Christian Roth, Dr. Gregor Höng (both Tax), Kerstin Franke (Real Estate), Dr. Jan Bernd Seeger (Public Sector), Matthias Kaiser (Employment).

Background:
GSK Stockmann has been advising the Starlinger Group for several years on German legal issues and now for the second time within six months on a company acquisition. Already at the end of 2017, a subsidiary of the Starlinger Group acquired the assets of the insolvent Maplan Machining GmbH in Schwerin, Germany.