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Article: West German investor plans to take control of Pfaff A.G. (sewing machine industry)
- Article from:
- Daily News Record
- Article date:
- June 22, 1988
- Author:
CopyrightCOPYRIGHT 1988 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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West German Investor Plans to Take Control of Pfaff A.G.
PARIS (FNS)--A wealthy West German attorney, Wolfgang Schuppli, has acquired a stake of about 39 percent in G.M. Pfaff AG, the largest manufacturer of industrial and consumer sewing machines in Western Europe, and has announced his intention to raise his holdings to more than 50 percent before the company's annual shareholders meeting on Aug. 25.
Described by Pfaff's management as "friendly," the takeover is taking place in the midst of considerable merger activity in the highly competitive sector, with Juki of Japan in the process of acquiring Union Special of the U.S., and with two smaller West ...