Home / Knowledge / News / Textiles / Demand for new Picanol weaving at high level in Q3
Demand for new Picanol weaving at high level in Q3
23
Oct '10
During the third quarter of 2010, the Picanol Group recorded a consolidated turnover of 96.51 million euros. This represented an increase of 63% compared to the consolidated turnover of 59.34 million euros realized in the third quarter of 2009.

Following on from the first half of this year, demand for new Picanol weaving machines also continued at a high level in the third quarter of 2010. Amongst other things, this is a consequence of continued strong demand in Asia (mainly China) and the effect of the favorable euro exchange rate. Furthermore, sales of spare parts and weaving accessories also profited from the positive market situation in the third quarter.

The Industries Division also experienced an increase of activities in the third quarter. Through making full use of the advantages delivered by its new molding line (Proferro) and by focusing on the continued development of its controller competences (PsiControl Mechatronics), the group was able to complete several new projects across various different sectors.

During the third quarter of 2010, the Picanol Group recruited 150 additional temporary workers for its production unit in Ypres – taking the total of temporary workers being hired in Ypres to 200 since the start of 2010. The Picanol Group remains on the lookout for skilled technicians and CNC operators. The third quarter also saw the registered office of the group moved to the Karel Steverlyncklaan 15 in Ypres.

Outlook
As announced previously, the Picanol Group remains on course to realize for the complete 2010 financial year a turnover in line with the previous quarters. The group is also taking into account increasing material costs. However, the continually increasing cotton prices and the volatile exchange rates have led to more uncertainty in the market, mainly in China. Subject to this, decisions regarding investments in new weaving machinery may be delayed.

Financial calendar
Announcement of annual results 2010 9 March 2011 (before opening of the stock exchange)
Annual General Meeting 20 April 2011
The Picanol Group will celebrate its 75th anniversary in 2011.

Picanol Group


Must ReadView All

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Silvia Venturini Fendi
Fendi s.r.l

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

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

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


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