Groz-Beckert and Bekaert reach agreement on the acquisition of Bekaert’s Carding Solutions activities
27 Feb 2015
Albstadt, Germany/Kortrijk, Belgium: On Wednesday, February 26, Groz-Beckert and Bekaert signed an agreement regarding the acquisition of Bekaert’s Carding Solutions activities by Groz-Beckert. The division has around 350 employees. Owing to the acquisition Groz-Beckert expands his existing service program for card clothing by a corresponding product portfolio.
The transaction covers the carding production facilities in Belgium, India, China and the USA and the global sales and services network. In the last fiscal year Bekaert’s Carding Solutions activities generated €26 million annual revenues. Groz-Beckert and Bekaert anticipate a deal closing in the course of the second quarter of 2015.
Bekaert’s Carding Solutions activities will be added to Groz-Beckert’s nonwovens activities. On the one hand the acquisition will enable Groz-Beckert a first access to the spinning industry. On the other to offer all card clothing items from one source: From consulting, product recommendation and the entire product range through mounting service and special roll repair to start-up service.
About Bekaert Carding Solutions
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. The platform employs 350 people in its worldwide manufacturing, distribution and sales network.