BELGIUM: Picanol Buys Airjet Business From Te Strake
Textile machinery specialist the Picanol Group has acquired the feeders and nozzles business of Dutch company Te Strake BV, a leader in airjet insertion technology.
The new business unit employs 60 people and has an annual turnover of about 9 million euros. The acquisition price has not been disclosed.
The feeders and nozzles business will be transferred to Te Strake Textile BV, a new company which will be fully owned by Picanol subsidiary Protronic NV.
The Picanol Group sees the acquisition as key to expanding its strategy of becoming a total solutions provider to the textile industry. In June this year, it officially launched GTP (Global Textile Partner), which provides the textile industry with a range of service solutions, both on Picanol and non-Picanol equipment.
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