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Radici Becomes Sole Owner Of FIM Textile

The previously announced joint acquisition of Italy-based FIM Textile by Picanol, Belgium, and the Italy-based Radici Group has been called off. Radici is now the sole owner of FIM Textile.It appeared that the expected synergies related to the double-shareholder structure by Picanol and Radici would be difficult to materialize in practice. Therefore, both parties agreed that Picanol will not enter the capital of FIM Textile.

December 2000