Home / Knowledge / News / Textiles / Gamma Holding sells Vlisco Group
Gamma Holding sells Vlisco Group
08
Sep '10
On 7 September, Gamma Holding sold Vlisco Group to Actis, an emerging markets private equity investor, for an amount of € 118 million. The real estate in Helmond, Netherlands, will remain the property of Gamma Holding and will be let out to Vlisco Group. A long-term lease with a market-rate rent, to be indexed annually, has been agreed.

In 2009 the activities sold represented an annual turnover of € 168.3 million and EBITDA 1 excluding restructuring expenses of € 28.2 million. Vlisco Group has 2,103 employees. The sale will not have any impact on jobs. The Works Councils concerned have issued a positive opinion regarding the takeover.

Actis manages $ 4.8 billion for over 100 institutional investors and invests in various emerging markets, including Africa. Jan Albers, chairman of the Executive Board of Gamma Holding: 'Due to its strong local African presence, Actis is excellently placed to successfully pursue Vlisco Group's growth strategy and to safeguard the continuity of the company.

In this respect, Actis will continue the transformation already under way toward a brand-oriented organisation and maintain the current production locations in the Netherlands, Ghana and Cote d'Ivoire. In this way, we have been able to do justice to the interests of all stakeholders.'

With the sale of Vlisco Group, Gamma Holding will improve its debt position. The book profit to be realised and the resulting shortening of the balance sheet will more than double the solvency of the company from 13.5% at 30 June 2010 to approximately 30% at 31 December 2010.

With regard to the business units Ammeraal Beltech, Clear Edge Filtration, Dimension-Polyant and Bekaert Textiles, Gamma Holding will continue to focus on optimising business processes and strengthening market positions. Improving the balance sheet ratios has increased Gamma Holding's financial strength.

Gamma Holding will publish its trading update on the third quarter of 2010 before the opening of the stock exchange on Friday 29 October 2010.

Gamma Holding N.V.


Must ReadView All

GMAC urges Cambodia to push fabric-forward rule in RCEP

Apparel/Garments | On 17th Oct 2017

GMAC urges Cambodia to push fabric-forward rule in RCEP

Representatives from the Garment Manufacturers Association of...

Alibaba to invest $15 billion in DAMO Academy for research

Textiles | On 17th Oct 2017

Alibaba to invest $15 billion in DAMO Academy for research

Alibaba will invest $15 billion over the next several years in its...

Pressure on  Indian textiles exporters to ease by Q3: ICRA

Textiles | On 17th Oct 2017

Pressure on Indian textiles exporters to ease by Q3: ICRA

Pressures on the profit and debt levels of textiles exporters is...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eamonn Tighe
Nature Works LLC

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search