Chinese knitting machine builder buys Steiger

By Haydn Davis in Shanghai - Flat knitting machine builder
Steiger has been bought by Ningbo Yuren Knitting Machine Co. Ltd. Financial
terms of the deal were not disclosed.

The sale has been in the pipeline for
several months but the deal was finalised here in Shanghai during the ITMA Asia + CITME
exhibition.

Ningbo Yuren is regarded as the fastest
growing knitting machine builders in China offering a range of both flat
and circular machines under the Cixing brand to its Chinese customer base.