Picanol : 2019 PR Picanol Group Burcklé En

PRESS RELEASE

Regulated information

Ieper, September 1, 2019 - 5:40 pm CET

Picanol Group announced today that it has the intention to discontinue the activities of its French subsidiary Burcklé sas (Bourbach-le-bas, France) at the end of September and it will close the affected branch. Burcklé is active in the production of reed, sectional frames and twin wire heddles.

As a result of the sharp drop in demand for products, which has mainly been due to the geopolitical situation in the market, production is no longer economically viable. The announced closure will impact 30 jobs and the employees affected were informed of this news. Picanol Group is committed to reducing the social impact of this decision as much as possible. The announced closure has no material impact on the results of Picanol Group.

About Picanol Group

Picanol Group is a diversified industrial group and it is active worldwide in the fields of mechanical engineering, agriculture, food, water management, the efficient (re)use of natural resources and other industrial markets. The group's products are used in a variety of applications, industrial and consumer markets. Picanol Group has approximately 7,000 employees worldwide and it is listed on Euronext Brussels (PIC) via Picanol nv.

For further information please contact:

Frederic Dryhoel, at [phone] or by e-mail:[e-mail].

This press release is also available on the Picanol Group corporate website:

www.picanolgroup.com.

Disclaimer

This document may contain forward-looking statements. Such statements reflect the views of management regarding future events at the date of this document. Furthermore, they involve known and unknown risks, uncertainties and other factors that may cause actual results to be different from any results, performance or achievements expressed or implied by such forward-looking statements. Picanol Group provides the information in this press release as at the date of publication and, subject to applicable legislation, does not undertake any obligation to update, clarify or correct any forward-looking statements contained in this press release in light of new information, future events or otherwise. Picanol Group disclaims any liability for statements made or published by third parties (including any employees who are not explicitly mandated by Picanol Group) and, subject to applicable legislation, does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release it issues.