The transaction covers the carding production facilities in Belgium, India, China and the USA and the global sales and services network. In the last fiscal year Bekaert’s Carding Solutions activities generated €26 million annual revenues. Groz-Beckert and Bekaert anticipate a deal closing in the course of the second quarter of 2015.

Bekaert’s Carding Solutions activities will be added to Groz-Beckert’s nonwovens activities. On the one hand the acquisition will enable Groz-Beckert a first access to the spinning industry. On the other to offer all card clothing items from one source: From consulting, product recommendation and the entire product range through mounting service and special roll repair to start-up service.

About Bekaert Carding Solutions Bekaert’s portfolio for the carding industry includes card wires and clothing for short staple, nonwoven, woolen and worsted applications. Bekaert carding solutions serve textile machine manufacturers and textile companies worldwide with advanced products and service programs. The platform employs 350 people in its worldwide manufacturing, distribution and sales network.

www.bekaert.com

About Groz-Beckert Groz-Beckert is the world’s leading provider of industrial machine needles, precision parts and fine tools as well as systems and services for the production and joining of textile fabrics. The products and services support the fields of knitting, weaving, felting, tufting and sewing. The family-owned company, founded in 1852, employed nearly 7,700 people and generated a turnover of around €570 Mio. in 2014. Groz-Beckert operates with agencies, production and distribution subsidiaries in more than 150 countries around the world.

www.groz-beckert.com