Announced
Financials
Sources
Tags
Friendly
Pending
weaving machines
Single Bidder
Private
Acquisition
Belgium
Machinery: Specialty
Majority
Domestic
Synopsis
Tessenderlo, a specialty company, focused on food, agriculture, water management and on valorizing bio-residuals, agreed to acquire Picanol, an customer-oriented group specialized in the development, production and sale of weaving machines, for £1.123bn. Sustainable development will remain a high global priority as both Tessenderlo and Picanol have pursued this in recent years, relying on successfully identifying opportunities and gradually improving operational performance. The effective R&D approach and the innovative culture of Picanol as well as a common sourcing policy can contribute to the combined profitability of the new industrial group.
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