The business group Oerlikon Management AG, Pfaeffikon/Switzerland, has sold its natural fiber machinery businesses to the Jin-sheng Group, Jintan/China, in a deal worth around CHF 470 million. Oerlikon's Natural Fibers and Textile Components Business Units had sales of around CHF 1.0 billion in 2012 and some 3,800 employees. The closing of the transaction is the latest strategic move in significantly reducing the Oerlikon's overall exposure to the textile industry. The deconsolidation of the divested Business Units will be recognized in Q3 2013.
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