Home / Knowledge / News / Textiles / AUNDE to buy Gamma car fabrics activities

AUNDE to buy Gamma car fabrics activities

06
Feb '07
Gamma Holding intends to sell the car fabrics activities of its Belgian subsidiary De Witte Lietaer and its French subsidiary Delcar to the German company AUNDE Achter & Ebels GmbH. Turnover of the activities to be sold amounts to approximately EUR 110 million. AUNDE is an important supplier of automotive fabrics.

Gamma Holding aims to conclude the transaction in the first quarter of 2007. No statements will be made regarding the sum involved. Combined, De Witte Lietaer and Delcar have a total of approximately 420 employees. The proposed sale is not expected to have any impact on employment. Consultation with the social partners about this transaction took place today.

Furthermore, Gamma Holding has sold its 50% interest in the Indian car upholstery producer Bhilwara Melba De Witte Private Ltd. to two foreign investors.

Both transactions take place in view of the previously announced intention to sell the Car Fabrics activities, which have been part of discontinued operations since the end of 2005. As part of this intention, both Ames Europe and the house linen activities of De Witte Lietaer were sold as announced earlier in 2006. The results over 2006 of discontinued operations, including these transactions, is expected to be nought.

The sale of discontinued operations will be completely finalised with this sale.

To conclude it can be announced that the sale of the curtain fabrics and wall decoration activities of the Sleep CareFabrics business unit, as announced on 5 December 2006, has been finalised. The activities have been sold to Escofin N.V., a Belgian company specialised in decoration textile. No statements will be made regarding the sum involved.

Gamma Holding will present its annual figures 2006 on 23 February next, before market.

Gamma Holding NV, Netherlands


Must ReadView All

Pic: Shutterstock

Textiles | On 25th Sep 2021

EU extends GSP plus status for Pakistan with 6 new conventions

The European Union (EU) has extended its general system of...

Pic: Shutterstock

Apparel/Garments | On 25th Sep 2021

Bangladesh seeks Russian support for ensuring direct exports there

Bangladesh commerce minister Tipu Munshi recently sought Russian...

Pic: Boris-B / Shutterstock.com

Retail | On 25th Sep 2021

US’ Halloween spending to reach $10.14 bn this year: NRF

Consumer spending in the US on Halloween-related items is expected to ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Ghatit Laheru,

Ghatit Laheru

When the 2001 tremblor wrecked the Kachchh region of Gujarat throwing many ...

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Erwin Devloo,

Erwin Devloo

The Picanol Group is a diversified industrial group active worldwide in...

Shaan Sethi, Jaanuu

Shaan Sethi
Jaanuu

Jaanuu, a vertically integrated e-commerce company, has reimagined the...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Abhishek Agarwal, Purple Style Labs

Abhishek Agarwal
Purple Style Labs

Late Indian fashion designer Wendell Rodricks, is known for his...

Reynu Taandon, Label Reynu Taandon + Nikhita

Reynu Taandon
Label Reynu Taandon + Nikhita

Renowned womenswear designer <b>Reynu Taandon </b>has been serving the...

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

Leave your Comments


September 2021

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


Advanced Search