Trade

PICANOL GROUP: 2020 RESULTS IN LINE WITH EXPECTATIONS

PICANOL GROUP: 2020 RESULTS IN LINE WITH EXPECTATIONS

Within the Machines & Technologies segment, in September 2020, Picanol launched the new TerryPlus-i, which is the most efficient and versatile airjet weaving machine for terry weaving on the market.

Proferro is currently investing in an automatic high-bay warehouse in Ieper that will come into operation in the spring of 2021.

Meanwhile, Psi Control is currently constructing a new factory in Rasnov (Romania).

The works should be completed by the end of 2021 (Machines & Technologies segment).

On March 16, 2021, Picanol Group acquired a 10% minority stake in Rieter Holding AG (SWX: RIEN), amounting to a total of 467,236 shares for a price of 45.4 million EUR.

The 2H20 revenue increased by 1.9%. Machines & Technologies (+16.3%) profited from a sharp recovery of the global machine market in the second half.

 

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