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Strong demand of Picanol's new weaving machines in Q3
Oct '12
In line with the previously outlined forecast, the Picanol Group realized a consolidated turnover of 116.72 million in the third quarter of 2012, which represents an increase in turnover of 19% compared to 97.88 million euros in the same period in 2011.

As was the case in the previous quarter, the demand for new Picanol weaving machines remained very high during the third quarter of 2012. This is due to, amongst others, the success of new Picanol weaving machines and the favorable exchange rate of the euro. The group is also forced to focus heavily on flexibility in order to handle production peaks.
In the third quarter of 2012, the Industries division experienced a slight increase in activities compared to the same period in 2011, due to the increased demand from Weaving Machines and projects for external customers.
In the third quarter, the Picanol Group completed the recruitment of 50 additional temporary workers for the production site in Ypres. To date, more than 125 employees have already been hired in Ypres this year. To handle the current production peaks, the Picanol Group is continuing to look for additional technicians and logistics personnel. In addition, the group also has vacancies for technical profiles such as R&D Engineers, CNC-operators, Field Technicians, and IT staff.
Serving the customer worldwide
In recent months, the Picanol Group has invested in the further expansion of its international network. In early August, the new Indian headquarters in New Delhi was inaugurated in the presence of H.E. Didier Reynders, Deputy Prime Minister and Minister of Foreign Affairs, Foreign Trade and European Affairs. Meanwhile, in the United States, Picanol of America will move to a new location in Greenville (South Carolina) at the end of this year. At the production site of Suzhou (People's Republic of China), a new warehouse is being built for weaving machines, which will be put into use at the end of 2012.
The weaving machine order book for the coming months is well filled. However, the forecasts for Industries are less clear due to the increasing economic and financial uncertainty. Based on the current order book, the Picanol Group expects to realize for the full financial year 2012 a turnover in line with the turnover achieved in 2011.


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