Schattdorf, 24 November 2010 – As of 1 January 2011, the TEXAID Textilverwertungs-AG in Schattdorf will take over the Emmen-based CONTEX AG, textile and shoe recycling. The amalgamation will allow for making use of synergies and strengthen the market position against foreign competitors. This will be to the benefit of many charitable institutions, that participate in the proceeds of TEXAID and CONTEX. It will also safeguard jobs in Switzerland for the long term.
TEXAID and CONTEX will continue their business activities – the collection and utilization of old textiles – within an unchanged scope, retaining their previous names. However, in the areas of logistics and the merchandising of old textiles, valuable synergies will arise. For example, the collections will become more efficient and thus more ecological.
By taking over the number two in the Swiss market for old textiles, TEXAID is able to considerably increase its market share and bolster its position as one of Europe's leading companies in the textile recycling industry.
Good solution for all involved parties
The founders of CONTEX, Hans Rudolf Benjamin and Urs Fischer, will retire from operative business at the end of 2010. They will contribute their broad experience to the company in an advisory capacity in the future. They are pleased with the signing of the contract: «We are convinced that the amalgamation is a good solution for all participants.» Martin Böschen, CEO of TEXAID, concurs: «The stronger position in the international competition will benefit our affiliated charitable institutions and safeguard the jobs of all employees for the long term.»
The TEXAID Textilverwertungs-AG based in Schattdorf is an affiliation of six renowned Swiss aid organizations and a private investor. The company has been dealing with the collection and utilization of used textiles in Switzerland for more than 30 years. Part of the collected old clothes is processed in TEXAID's sorting plants in Schattdorf and Zurich. TEXAID operates branches in Germany, Hungary and Bulgaria.