Verseidag Ballistic Protection sold to Belgium
Sioen Industries and Verseidag-Indutex have reached an agreement for the purchase of the shares of Verseidag Ballistic Protection.
Finland-based Verseidag Ballistic Protection has production facilities in Finland and sales force in Finland, Germany and the UK. The company is a manufacturer of armour and ballistic protection products, including a full range of vests, both overt and covert, tactical vests, EOD suits and shields.
The company forecasts for 2017 an EBITDA of approximately 2,2 million. The value of the purchase is approximately 18 million euros.
Sioen Industries holds a wide selection of products and activities, which include spinning, weaving and coating, manufacturing of garments, production of fine chemicals and processing of technical textiles.