Tubular Textile Machinery, a subsidiary of Harbour Group, announced the acquisition of Jacumin Engineering and Machinery Company (Jemco).
1999 has seen tremendous movement within the industry through mergers, acquisitions, and joint ventures. Harbour Group's expansion plans include Jemco, the forth in a line of vertical mergers in their textile machinery group.
Sam Fox, Chairman and Chief Executive Officer of Harbour Group stated "This acquisition creates significant marketing and sales synergies with Ashby Industries, Inc", also acquired by Harbour Group in May 1999.
Jemco, manufacturing continuous bleaching machinery, will complement the current technologies and product lines offered by TubeTex. Bill Milligan, Tubular Textile's president, said "the acquisition of Jemco is an excellent strategic fit. This acquisition strengthens our market position in bleaching ranges with a company that has a 35 year history of quality bleaching equipment."
Edited by Anndrea Vorobej