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. Read more