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Nonwovens / Technical Textiles

Lectra Acquires Lacent

Lectra, Paris, has purchased Lacent Technologies Inc., Canada. The financial terms include the acquisition of 100 percent of Lacent's fully diluted capital. Lectra paid the transaction price in full at closing with no bank financing. Other agreement details were not disclosed.

Lacent, a laser cutting systems manufacturer, was established in 1992 to serve three major market segments: automotive airbags; automotive seating and trim; and industrial textiles. It holds about 25 percent of the worldwide marketplace. The company has a strong presence in North America and Europe and recently expanded into Asia.

Lectra said it intends to develop and leverage significant synergies from the two companies assets and competencies. Moreover, Lectra said the acquisition will provide Lacent customers with access to Lectra's sales and service organization around the world.

"The acquisition of Lacent strengthens our world leadership in the automotive industry, in which we have made our strongest growth in 2003," said Daniel Harari, CEO of Lectra.

October 2004