Condor buys RALUX; Radici to raise focus on synthetic fibres
14 Jul '06
2 min read
RadiciGroup announced that a share purchase agreement has been entered into with the Dutch Condor Group, the fourth largest European soft floor covering manufacturer belonging to the Hoekman family, for the sale of Ralux NV, a company also in the business of printed carpet production. RALUX NV, based in Flanders, Belgium, has about 240 employees and recorded sales revenue of €62 million in financial year 2005.
When the sale is concluded, RadiciGroup will no longer operate in the downstream carpet manufacturing sector, which is no longer considered to be compatible with the Italian Group's core businesses. Thus the Group will increase its focus on nylon polymers, engineering plastics and synthetic fibres.
Finalization of the transaction is subject to the outcome of the usual due diligence. The closing should take place by the middle of July.
Italian company Radici is a manufacturing Group which is active in fibers, chemicals, textiles, plastics, engineering and machinery.
RadiciGroup is a solid, reliable and flexible organisation that deals in the production and sale of a vast range of products – from polyamide and polyester, to elastomers, cellulose, acrylic and polypropylene – under well-established brand names.
The Group's activities are managed through its Divisions - Chemicals, Plastics, Fibres, Textiles and Auxiliary.
marketing@alchempro.com
