Picanol Group stacks-up its shareholding in Tessenderlo Chemie

Picanol Group stacks-up its shareholding in Tessenderlo Chemie

The Picanol Group announced today that it has acquired, through its subsidiary Verbrugge nv, a block of 1 million shares in Tessenderlo Chemie nv on October 26, 2016, at a price of 28.92 euros per share. As a result of the transaction, Verbrugge nv and Symphony Mills nv (both controlled by Luc Tack) are now holding 39.63 % of the share capital of Tessenderlo Chemie nv or the equivalent of 17046761 shares.

The Picanol Group is an international, customer-oriented group specialized in the development, production and sale of weaving machines (division Weaving Machines), engineered casting solutions and custom-made controllers (division Industries). In 2015, the Picanol Group realized a consolidated turnover of 529.34 million euros. The Picanol Group employs some 2000 employees worldwide and is listed on Euronext Brussels (PIC). Since 2013, the Picanol Group has also had a reference interest in the Tessenderlo Group. To the Group belongs also the weaving machinery producer Picanol N.V.



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