Picanol Weaving Machines experiences a strong year in 2010

10 Mar '11

5 min read

Dividend
As the losses transferred from 2008 and 2009 have not yeen been eliminated, on 20 April 2011 the Board of Directors will propose to the General Meeting not to pay out a dividend for 2010.

Main events in 2010

- In the first six months of 2010, Picanol's product offering was extended with a new airjet weaving machine, the OMNIplus-X. R&D and product innovation continue to play a central role in the further development of the high-tech activities.
- In June 2010, the 300,000th weaving machine reached the end of the assembly line since production started in Ypres. This was another milestone in the long history of Picanol, which started on 22 September 1936.
- As a result of the improved market conditions, the Picanol Group launched a recruitment campaign in 2010 to hire 200 extra temporary workers for its production plant in Ypres.
- In August 2010, the Picanol Group concentrated all Ypres activities and its registered office in the Karel Steverlyncklaan, where its main production and R&D activities are based.

Outlook

Weaving Machines
The Picanol Group expects the international market for weaving machines to remain at the same level in 2011 as in 2010. The order book for the first months of 2011 has been filled up nicely. The second half of the year is less clear, as the economic recovery in the western world is still quite hesitant, and as the increased prices for energy and raw materials (such as cotton), currency developments or the political situation in North Africa are causes of uncertainty. This might influence decisions to invest in new weaving machines.

Industries
Based on the current economic situation, the Picanol Group is aiming to further grow its Industries division in 2011, by making full use of the advantages of the new molding line (Proferro) and the further expansion of its controller competencies (PsiControl Mechatronics).

The Picanol Group remains cautious, as it is active as an export-oriented company in a volatile world economy.

Recruitment
After recruiting 200 extra temporary workers for the main production facility in Ypres in 2010, the Picanol Group is again looking for new employees to enable it to keep ahead in the field of technology. There are about 20 vacancies for R&D engineers (mechanics, electronics, hardware and embedded software), process engineers, cost engineers, IT officers and international trainees (Young Engineers Program). The Picanol Group is also looking for deburrers and CNC technicians (bottleneck jobs).

75th Anniversary Picanol Group
In 2011, the Picanol Group will celebrate its 75th anniversary. In these 75 years, the Picanol Group has evolved from a traditional manufacturer of weaving machines into an international supplier of complete solutions for the textile industry and other sectors.

The Picanol Group is an international, customer-oriented group specialized in the development, production and sale of weaving machines and other high-technology products, systems and services.

Picanol Group

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