Jinsheng

Michael Buscher, chief executive of Oerlikon has reasons to be cheerful. The Swiss machine builder just sold its natural fibre and textile divisions to the Chinese Jinsheng Group for SFr650m ($700m).

It’s good deal, Buscher reckons, given that the divisions’ SFr1.1bn yearly revenues were seen as too cyclical. “As of now, we’re a better balanced and more profitable firm.” But Jinsheng has reasons to cheer as well.