Groz-Beckert Acquires Picanol’s Steel Heddle Activities

Textile machinery components supplier Groz-Beckert KG, Germany, recently acquired the activities of
GTP Greenville (Steel Heddle division), a subsidiary of weaving machinery manufacturer Picanol
Group, Belgium.

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 papermaking cloth industry from
Steel Heddle to its France-based Burcklé subsidiary, which going forward will be expanded further
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., which will continue to serve the U.S. market offering sales and service for
Picanol weaving machinery and spare parts.

November/December 2011