Home / Knowledge / News / Textiles / H1 revenues zoom 39% at Picanol Group
H1 revenues zoom 39% at Picanol Group
27
Aug '13
During the first half of 2013, the Picanol Group realized a consolidated turnover of 304.1 million euros, an increase of 39% compared to 219.1 million euros in the weaker first half of 2012.

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 first half of 2013 was characterized by a high global demand for Picanol weaving machines, forcing the group to focus heavily on flexibility in order to handle production peaks.

The Industries division also realized a strong first half, thanks to higher demand from Weaving Machines and projects for other customers. The group closed the first half of 2013 with a net result of 42.4 million euros, compared to 25.4 million euros in the same period in 2012.

- Based on the current order book, the Picanol Group expects to realize in the second half of 2013 a slight turnover increase in comparison to the stronger second half of 2012.

- The planned investments in Ypres for an amount of 12 million euros are on track. In addition to this, the Board of Directors has approved a further investment of 5.5 million euros in new CNC machines.

The preparatory work for the new production facilities in Ypres has been started and the expansion of the HWS molding line for Industries was realized. In combination with further productivity and quality improvements, the Picanol Group wants to increase its competitiveness with these targeted investments in Ypres.

- SNPE SA and Picanol Group have signed on 25 July 2013 an agreement for the sale by SNPE SA to the Picanol Group of a stake held by SNPE SA in Tessenderlo Chemie NV, representing 27.6% of the share capital of Tessenderlo Chemie NV for a price per share of EUR 22.

Click here to read full results  

Picanol Group

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search