Santoni Shanghai Acquires Terrot

Santoni Shanghai Knitting Machinery Co, Ltd, a wholly owned company established by the Italian Lonati family, announced the acquisition of Terrot GmbH, a leading circular knitting machinery manufacturer based in Chemnitz, Germany. The move represents the latest development in Santoni Shanghai's plan to establish a system aimed at transforming and strengthening the circular knitting sector. The acquisition will be finalized following approval from regulatory authorities in China. Santoni Shanghai has developed an ambitious strategic plan centered on innovation, sustainability and digitalization to capitalize on growing opportunities in the knitting machinery market. The new partnership with Terrot aims to advance this strategy by developing Santoni's integrated and scaled ecosystem while ensuring sustainable development of the global knitting machinery industry. Gianpietro Belotti, CEO of Santoni Shanghai, stated: "The integration of Terrot, which also includes the renowned Pilotelli brand, will provide rapid and extraordinary support to our product portfolio. Terrot's superior technical capacity, broad product range and extensive experience serving customers around the world will enable us to better achieve our common objectives. We are very excited about this partnership and look forward to working with Terrot as we advance along the path of creating a pioneering industry ecosystem, fulfilling our mission of offering customers an entirely new knitting experience." Source