6. When a new Executive Board took office at the beginning of 1995, a fundamental change in the strategic policy followed, in which the divestment of textile companies was halted with immediate effect. 7. On the initiative of the then Executive Board, agreement was reached in March 1995 with the majority shareholder in TenCate Technical Fabrics to repurchase this company. Mr. De Vries as minority shareholder took no part in the negotiations in question. 8. The sale of TenCate Advanced Composites, which had already been agreed upon, to the investment consortium, in which Mr. De Vries had a minority share, was revoked in March 1995. As a consequence of this, the consortium received a financial compensation in the course of 1996, on account of this transaction not taking place. For Mr. De Vries this was an amount of NLG 1.6 million. 9. After the repurchase of TenCate Technical Fabrics by TenCate in 1995 Mr. De Vries was employed as general manager of this company under the same contract of employment (see point 5) and reported to the then Executive Board of TenCate. 10. In mid-1996 the purchase of Spinnerij Nijverdal took place, being bought by TenCate from Atomota nv, a group of investors. The negotiations with Atomota nv were conducted directly by the then Executive Board of TenCate. Mr. De Vries formed no part of this investment group and had no involvement whatsoever in the negotiations and the transaction resulting from them. Neither was he a member of the Executive Board of TenCate in 1996. 11. In 1998 Mr. De Vries was permitted to undertake activities for Textielgroep Twenthe (TGT)/United Fabrics, in which he was not a shareholder and with which did not have a contract of employment. 12. As a result of the difference of opinion in respect of future plans and a lack of opportunities for the expansion of TGT, these activities were ended in September 1998 and Mr. De Vries was appointed member of the Executive Board of TenCate on 1 October 1998. This step was the reason for TenCate's legal conflict with UF, which is still ongoing (see above under United Fabrics). 13. On 1 August 2000 Mr. De Vries was appointed Chairman of the Executive Board of TenCate.
Negative purchase advice concerning Spinnerij (Spinning Mill) Nijverdal: Before the then Executive Board of TenCate proceeded to purchase the spinning mill, a valuation report was issued among others by Mr. De Vries, by virtue of his position as general manager. This report contained a negative purchase advice. Mr. De Vries, despite his negative advice regarding the purchase transaction, took upon himself from his position as general manager the operational management of the spinning mill and transformed the spinning mill into a profitable operation.
The then Executive Board saw the purchase of Spinnerij Nijverdal and its strategic location in the business park at Nijverdal in conjunction with the formation of an integrated group of textile companies.
Mr. De Vries as Chairman of the Executive Board: Mr. De Vries has made a significant contribution to the positive profit trend of TenCate's textile activities. He has successfully implemented his strategic vision within TenCate from his role as director. The enterprising manner in which the strategy has been implemented in the past few years has resulted in the leading positions that TenCate currently holds worldwide in our strategic core markets.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
