As expected and as announced previously, the Weaving Machines Division had a strong start to 2013, based on the well-filled order book at the end of 2012. The group had to focus strongly on flexibility in order to handle production peaks.
In the first quarter of 2013, the Industries division experienced a slight increase in activities compared to the same period last year, which was due to an increase in demand from Weaving Machines and projects for external customers.
In the first quarter of 2013, the Picanol Group also invested in the further expansion of its international network. In March, Picanol of America inaugurated its new U.S. headquarters in Greenville in the presence of more than 150 customers. The strong global sales and service network is a key asset for the group.
Based on the current market situation, the Picanol Group expects to realize a growth in turnover for the first half of 2013, in line with the turnover increase of the first quarter. The order books for both divisions are also well-filled for the third quarter of 2013. The outlook for the fourth quarter is less clear, which is due to the limited visibility in the markets in which the group operates.
The Picanol Group remains cautious, as it is active as an export-oriented company in a volatile world economy with ever-changing exchange rates. Due to the cyclical nature of the textile market, strict cost-control remains of the essence.
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