Tissage de Kalken(TDK) takes over Etrotex from ITM International
Tissage de Kalken (TDK) takes over the Etrotex velvet department of ITM International (Kruishoutem). ITM International produces plain jacquard and jacquard velvet. This acquisition is in line with the ongoing wave of consolidation within the sector of interior textiles.
TDK, a manufacturer and designer of curtain collections, hereby sets a first step in the upholstery fabrics segment.
The machinery and the almost entire velvet team will be integreted in the Laarne plant.
Trough this acquisition, turnover from TDK will grow to almost € 12 million.
This further strengthens TDK’s leading position in the high-end residential and contract market.
The intention is to maintain and even expand the know-how of production, development and design in Belgium. Further acquisitions are not excluded.