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The Textile Magazine
MARCH 2012
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celona. The new airjet weaving ma-
chine OMNIplus Summum and the
positive rapier (a newer version of
the OptiMax) were introduced.
In order to put its rich history in
the spotlight, Picanol published the
book ‘Picanol – more than weav-
ing machines’ in the fall of 2011.
In September, it signed an agree-
ment with Groz-Beckert KG for the
sale of the Steel Heddle activities of
GTP Greenville. The Picanol grav-
ity point in Greenville, which is re-
sponsible for sales and service of its
weaving machines and spare parts in
the US, continues to operate as Pica-
nol of America Inc.
In October 2011, the Picanol
Group acquired the high-tech ma-
chinery of TBP Electronics Belgium
NV from Geel. The acquisition fits
into the growth plans of PsiControl
Mechatronics focusing fully on the
further expansion of its controller
capacities.
For 2012, the Picanol Group takes
into account a further slowdown of
the weaving machine market. This is
partly because of the growing eco-
nomic uncertainty and limited avail-
ability of funding for investments,
which means that customers are
more cautious and investment deci-
sions may be delayed or postponed.
For 2012, the group expects a fur-
ther growth in the Industries activi-
ties, albeit differentiated into the dif-
ferent markets. It remains cautious,
as it is active as an export-oriented
company in a volatile world econo-
my. In view of the cyclical nature of
the textile market, strict cost control
is most essential.
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corporate news
Reacting to the Budget proposals, Mr. P.
Kasiviswanathan, Head of Indian Opera-
tions of Picanol, said: “We welcome the
decision of the Government to completely
remove customs duty on weaving ma-
chines. When you look back, in 2011-12
the Government granted 10 per cent capi-
tal subsidy for investment on new weav-
ing machines. Now, in the recent Budget,
the customs duty of 5 per cent has been
completely removed. This shows the Gov-
ernment’s firm belief that we must con-
centrate on upgradation of technology in
weaving as there are enormous shuttle
looms which are to be modernized to shut-
tleless looms”.
He said this also means that even with-
out export obligation, customers can im-
port weaving machines duty free. In order
to avoid dumping of second-hand weaving
machines the Government has imposed
7.5 per cent duty on such machines, which
implies further encouragement for new
shuttleless loom investment.
All this will create new opportunities for
domestic fabric manufacturers to go for
technological upgradation by importing
the latest technology.
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Picanol hails
customs relief for
weaving machines