Santoni Shanghai Acquires Knitting Machine Manufacturer Terrot
Shanghai based Santoni Shanghai Knitting Machinery, which has been founded and wholly owned by Italy’s Lonati family, has acquired Terrot GmbH, a German manufacturer of circular knitting machines.
“This acquisition is in tune with Santoni Shanghai’s long-term vision to build an ecosystem that aims to reshape and consolidate the circular knitting industry,” the Chinese company said in a press release.
According to Santoni Shanghai, the global circular knitting machine market is expected to see significant growth in the coming years and will grow at a CAGR of 5.7 percent from 2023 to 2030.
This growth will be propelled by an increasing consumer preference for breathable and comfortable knitted fabrics as well as increasingly diversification of demand for knitted apparel.
To seize this market opportunity, Santoni Shanghai has developed an ambitious strategic plan centered on innovation, sustainability and digitalisation.
The new partnership with Terrot aims to further this strategy by enhancing Santoni’s integrated and scaled-up ecosystem, while also driving the sustainable development of the global knitting machinery industry.
“The integration of Terrot, which also includes the well-known Pilotelli brand, will bring an immediate and extraordinary boost to our products portfolio,” said Gianpietro Belotti, CEO of Santoni Shanghai.
“Terrot’s incredible technical capabilities, extensive product range and vast experience in serving customers all over the world will enable us to better achieve our shared aspirations,” Belotti added.
