Gamma's in talks with French Co HDM-Finance for Household Linen business
03 Feb '06
2 min read
High-quality textile-based products maker Gamma Holding intends to sell the Household Linen activities of its Belgian subsidiary De Witte Lietaer, part of the Car Fabrics business unit, to the French company HDM-Finance.
HDM-Finance holds interests in various production and distribution companies in the field of household linen and other textile products.
Gamma Holding aims to conclude the transaction by the end of February 2006. No official statements regarding the sum involved in the transaction can be made.
Turnover of the Household Linen activities amounts to approximately EUR 25 million. In 2005 the Household Linen activities were separated from Car Fabrics.
Now that this process has been completed, Gamma Holding has opted to transfer the household linen business to a larger European player who, strategically, is better equipped to realise further growth in this sector.
Gamma Holding will publish its annual figures for 2005, including explanatory notes, on 24 February next, before the opening of the stock exchange.
The founders of De Witte Lietaer and the next generations of employers and employees, turned the company into a leading textile group, renowned for its high quality, craftsmanship, perseverance and zest for work.
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