Limburgse Reconversie Maatschappij, the Belgian investment company, is to buy a 40 per cent stake in men's wear manufacturer Bio-Racer for 1.0 million euro ($898,000).

Bio-Racer, which employs 45 people, will use the resources to build a production unit in Beringen to complement its existing plant in Tessenderlo.

Bio-Racer recorded a turnover of 4.4m euro ($4.0m) turnover in 2000/2001.