The Karl Mayer Group has issued the following statement on its future, in light of the recent news that it will exit the flat knitting sector:

The global textile markets are facing significant structural changes and a continued economic downturn. Karl Mayer is actively meeting these challenges and realigning itself - with clear decisions that ensure long-term innovative strength and competitiveness. In future, the long-established family company will be focusing once again on its core business areas - warp knitting, warp preparation and technical textiles.

“These areas have been the heart of our company for many years, and we need to focus our innovative strength in these fields in order to quickly develop solutions that make our customers successful”, says Karl J. Mayer, Representative of the Advisory Board and member of the Mayer family. As a consultant, the grandson of the company founder is part of an experienced management team with extensive industry expertise.

One of the key elements of this transformation is the targeted push for innovation. Karl Mayer is investing in the further development of its machine technologies in its core areas - a measure that takes account of the needs of its customers. At the same time, customer centricity remains a fundamental aspect of the corporate strategy. The global network of subsidiaries and qualified representatives in over 90 countries guarantees that Karl Mayer will continue to provide its customers with fast and competent support in the future.

As part of the strategic reorientation, the company has also decided to divest the flat knitting machine business under the Stoll brand in 2025. This process is still in the planning stage and various transition options are being examined.

Since it was founded in 1937, Karl Mayer has proven its ability to respond successfully to changes in the market. With this strategic reorientation, the company will continue to rely on its tradition and innovative strength in order to meet the challenges of the global market.

"As a family business, we don't think in quarters, we think in generations. Our current decisions are an expression of a forward-looking strategy that aims to strengthen our ompany for the long term and secure its future", concludes Karl J. Mayer.

Karl Mayer will be presenting its latest innovations at ITMA ASIA in Singapore in October this year.

www.karlmayer.com