Picanol to discontinue activities of French subsidiary

As a result of the sharp drop in demand for products, which has mainly been due to the geopolitical situation in the market, production is no longer economically viable. Picanol Group is committed to reducing the social impact of this decision as much as possible. The announced closure has no material impact on the results of Picanol Group, said the company in a press release.

Picanol is active worldwide in the fields of mechanical engineering, agriculture, food, water management, the efficient (re)use of natural resources and other industrial markets. The group's products are used in a variety of applications, industrial and consumer markets. (PC)

ALCHEMPro News Desk – India