Home / Knowledge / News / Textiles / Sales soar 26.6% at Picanol Group in 2015
Sales soar 26.6% at Picanol Group in 2015
17
Feb '16
Advanced weaving machines producer, Picanol Group's sales soared 26.6 per cent year over year, to €529.34 million in 2015.

“In 2015, the Weaving Machines division experienced a high global demand, which meant, the group had to focus strongly on flexibility in order to handle production peaks,” a Picanol press release said.

In 2015, Picanol introduced a number of new weaving machines to the market which includes the OptiMax-i, the TerryMax-i and the TERRYplus Summum.

“This enabled Picanol to once again project itself as the technological market leader in rapier and airjet weaving machines,” the company added.

“The higher demand in the Weaving Machines division resulted in a turnover increase for the Industries business division last year,” it informed.

In 2015, Picanol's net profit rode higher at €60.6 million compared to 40.67 million in 2014.

Additionally, Tessenderlo Chemie NV contributed €25.09 million to the net result in 2015 compared to €11.73 million in 2014.

“The group closed 2015 with a net result of €85.69 million as against €52.4 million in 2014,” Picanol informed.

Picanol further added that to deal with production peaks, it is currently looking for some fifty additional employees for its production facility in Ypres.

The order book is well-filled for the first half of 2016 and for full year 2016; Picanol Group expects to realise a turnover in line with the turnover of 2013, which was the best year in the history of the group.

The board of directors will propose the payment of a gross dividend of €0.1 as in the previous year at the annual general meeting on April 20, 2016, which will realise in a total outgo of €1.77 million.

On December 16, 2015, Tessenderlo Group and Picanol Group announced their plans to combine the industrial activities of both companies into one larger group named, Picanol Tessenderlo Group NV.

The deal involves the transfer of the current industrial activities of Picanol into Tessenderlo.

The Tessenderlo board of directors would call on shareholders to issue 25,765,286 new Tessenderlo shares at €31.5, to compensate for planned transaction to Picanol NV, based on a valuation of Picanol activities at €811.6 million. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Asmara Group

Apparel/Garments | On 20th Sep 2018

Fragmented nature of Indian apparel sector major challenge

A major challenge for the Indian apparel sector is its fragmented...

Courtesy: Pexels

Textiles | On 20th Sep 2018

Risk to US consumers grows with tariff escalation: NRF

The US National Retail Federation (NRF) has expressed disappointment...

India's 2018-19 forward cotton export contract up by 100%

Textiles | On 20th Sep 2018

India's 2018-19 forward cotton export contract up by 100%

Rise in demand from China, lower domestic prices and depreciation of...

Interviews View All

Arvind Saraf, Triveni Sarees

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Janak Dhamanwala & Sunil Dhamanwala, Jansun

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Claudia Kersten, Global Organic Textile Standard

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Abhishek Dhanuka,

Abhishek Dhanuka

Vyom International Pvt Ltd, established in 2002, is one of Surat's leading ...

Siddhachakra Weaving (Badiya Fashion),

Siddhachakra Weaving (Badiya Fashion)

Ahmedabad-based Siddhachakra Weaving Pvt Ltd was established in 2011 under ...

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

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 2018

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

news category


Related Categories:

Advanced Search