Groz-Beckert said it will acquire Bekaert’s carding solutions activities which has around 350 employees and which will also help it expand card clothing service with a corresponding product portfolio.
The transaction covers the carding production facilities in Belgium, India, China and the US and the global sales and services network and closure of the deal is anticipated in the second quarter of 2015.Groz-Beckert said it will acquire Bekaert's carding solutions activities which has around 350 employees and which will also help it expand card#
“In the last fiscal year, Bekaert’s Carding Solutions activities generated €26 million in annual revenues,” a press release from Groz-Beckert informed.
Bekaert’s Carding Solutions activities will be added to Groz-Beckert’s nonwovens activities and will also enable Groz-Beckert get access to the spinning industry.
Groz-Beckert will also be able to offer card clothing services from one source like, consulting and the entire product range through mounting service and special roll repair to start-up service.
Bekaert’s portfolio for the carding industry includes card wires and clothing for short staple, nonwoven, woolen and worsted applications.
Bekaert carding solutions serve textile machine manufacturers and textile companies worldwide with advanced products and service programs.
Groz-Beckert is the world’s leading provider of industrial machine needles, precision parts and fine tools as well as systems and services for the production and joining of textile fabrics.
Products and services of the family-owned company, founded in 1852 supports segments like knitting, weaving, felting, tufting and sewing.
Groz-Beckert operates with agencies, production and distribution subsidiaries in more than 150 countries around the world. (AR)
Fibre2fashion News Desk - India
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