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Textile weaving in Brazil

As Belgian textiles are renowned worldwide, the number 2 company in the fi eld of mattress ticking, a sector dominated by Belgian companies, decided to pursue its international growth in order to strengthen its position in the global market place.

The main products are mattress ticking or mattress fabrics which are interior textiles supplied to mattressand bedding manufacturers who, in turn, use these products as the outside cover of mattresses. Product wise, a distinction should be made between:

  • Knitted mattress ticking which represent the high end of the market;
  • Woven ‘jacquard’ or ‘damask’ mattress ticking which represent the medium to high end of the market.

Prior to its investment in Brazil, the Belgian partner already operated production facilities in the US and Indonesia. In 2005, the group realized with 500 employees a consolidated turnover of around 70 mio EUR.

At the end of 2005 - beginning of 2006, the group converted its existing sales offi ce in Brazil into a fully-fl edged production unit for woven mattress ticking earmarked for the Central- and South American markets with a key focus on the Mercosur countries, primarily Brazil and Argentina. To this end, a factory was built in Sumaré, close to Sao Paulo, entailing an investment cost of approximately 4 mio USD. The Belgian partner solicited BMI-SBI to co-fi nance this project in Brazil for a total amount of 1.25 mio USD (equity in conjunction with a subordinated term loan), hence seeking to reduce the risk of its investment in one of the so-called BRIC countries.