European technical textile manufacturers and their suppliers have been reporting lower sales and profits for 2009. The downturn spans a wide range of sectors, and most players are relieved that the losses are not as bad as they might have been.
One outcome of the weaker conditions has been a series of announcements of significant consolidations in the second half of 2009 as companies have looked to their longer-term futures.
Examples of such consolidations include the purchases of:
- Gamma’s Coating & Composites business unit by Jagenberg; - Tamfelt by Metso; - Perfojet by Andritz; and - Oerlikon Enka Tecnica by its management.
This trend was first observed in the European automotive fabrics industry as a result of the decline in car sales which began in early 2008. More recent consolidations within this sector include the purchases of:
- Eybl International by the Prevent Group; - Fezko by Michel Thierry Group; and - Stankiewicz by International Automotive Components (IAC).
