On 29 November 20211, the Balta Group announced the intended sale of its Rugs, Residential polypropylene and Non-Woven businesses, together with the Balta brand, to Victoria PLC.
From April 4th, the remaining group continues to operate as a Euronext listed company and will be re-named in the course of 2022. The company will focus on further developing the success of its commercial businesses in Europe and the United States under the existing brands modulyss, arc edition and Bentley, and will further invest in growing its premium European Residential polyamide business under the existing brand ITC.
With its origins deeply rooted near the river Lys, in the heart of Flanders’ renowned textile industry, the company will build on its strong legacy in soft flooring, delivering premium quality and design to its customers across the world. The company will continue to invest in sustainable growth, with an even greater focus on innovation, manufacturing optimization and more agile digital solutions.
The divested Rugs, Residential polypropylene and Non-Woven businesses, will operate under the Balta brand, and will continue to deliver the same quality products and services, but within the structure of Victoria PLC.