02.27.15
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. The acquisition will allow Groz-Beckert to expand its existing service program for card clothing by a corresponding product portfolio.
The transaction covers the carding production facilities in Belgium, India, China and the U.S. and the global sales and services network. In the last fiscal year, Bekaert’s carding solutions activities generated $29.4 million (€26 million) in annual revenues. Groz-Beckert and Bekaert anticipate a deal closing during the second quarter of 2015.
Bekaert’s carding solutions activities will be added to Groz-Beckert’s nonwovens activities. The acquisition will enable Groz-Beckert a first access to the spinning industry, while offering 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.
The transaction covers the carding production facilities in Belgium, India, China and the U.S. and the global sales and services network. In the last fiscal year, Bekaert’s carding solutions activities generated $29.4 million (€26 million) in annual revenues. Groz-Beckert and Bekaert anticipate a deal closing during the second quarter of 2015.
Bekaert’s carding solutions activities will be added to Groz-Beckert’s nonwovens activities. The acquisition will enable Groz-Beckert a first access to the spinning industry, while offering 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.
