BELGIUM: Picanol Seeks Business Partner - Paper
Textile machinery manufacturer Picanol NV is looking for a merger or acquisition deal, according to Dutch-language newspaper De Tijd.
Interim director of the company, Luc Van Nevel, said that he wanted a business partner for the company and will ask the general assembly being held on 16 March for a mandate approval of the proposition.
Picanol's chairman Patrick Steverlynck and chief executive Jan Coene both quit their posts with the company - which has seen its value triple over the past few years - in October 2004.
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