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3rd May 2019, Ardooie

Sioen acquires assets of Techma Coatings

Sioen Industries has an extensive portfolio of products and activities. © Sioen Industries

Sioen Industries has an extensive portfolio of products and activities. © Sioen Industries

Sioen Fabrics, a company of the Sioen Industries, and Seyntex have signed an agreement regarding the purchase of assets of Techma Coatings. The agreement includes acquisition of part of the production equipment, the customer portfolio, product formulations and production methods.

Techma Coatings, part of the Seyntex Group, develops and manufactures PU, PVC and silicon-coated breathable laminated textiles for rain-, sports- and workwear, high-tech applications, medical and healthcare, tents and tarpaulins. Last year, it realised a turnover of around EUR 13 million.

The transaction price is split in a payment of EUR 300,000 for the above-mentioned assets and an advance payment of EUR 800,000 for the inventories.

Seyntex says it has decided to divest its coating activities in order to focus on its core activities, which consists of development, production and marketing of protective high-tech clothing with ballistic, knife or spike protection, fire protection, protection against chemical, biological, radiological and nuclear hazards, protection against severe weather conditions.

“With this acquisition Sioen Fabrics will reinforce its position in the market of the technical coated fabrics for mattress covers, apparel and small structures and tents amongst others,” the company reports.

Sioen Industries has an extensive portfolio of products and activities, which include spinning, weaving and coating, manufacturing of garments, production of fine chemicals and processing of technical textiles. The company’s main focuses are on customised products, high end, specialised products, recyclable/recycled products, integrated features, and intelligent textiles.

www.sioen.com

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