Germany-based Groz-Beckert KG — a supplier of components for textile manufacturing applications such as knitting, sewing, felting, tufting and weaving — recently acquired the activities of Greenville-based GTP Greenville (Steel Heddle division), a subsidiary of Belgium-based Picanol Group — a manufacturer and marketer of weaving machinery and other high-technology products, systems and services.

Steel Heddle, acquired by Picanol in 2001 and a consistent contributor to Picanol's cash flow, is a global supplier of weaving accessories including drop wires, heddles and frames. According to Picanol, the division's product line complements Groz-Beckert's product portfolio, and will benefit from better growth opportunities under the new ownership.

The acquisition involves all GTP Greenville (Steel Heddle division) employees. Picanol has transferred section frame and special heddle production for the paper making cloth industry from Steel Heddle to its France-based Burcklé subsidiary, which going forward will be further expanded as a supplier of accessories including reeds, section frames and twin wire heddles for Picanol's weaving machinery.

Picanol's remaining Greenville activities have been reorganized into a new company, Picanol of America Inc., and will continue to serve the U.S. market offering sales and service for Picanol weaving machinery and spare parts.

November 1, 2011