Textile Company Beaulieu to Close Department in Oostrozebeke, 30 Jobs at Stake
In a recent announcement, Beaulieu International Group revealed its decision to close a department in Oostrozebeke, resulting in the potential loss of 30 jobs. The company cited financial reasons for this move, with a significant decrease in revenue and profits compared to previous years. Beaulieu International Group reported a turnover of 2 billion euros and a gross profit of 98.1 million euros last year, down from 250 million euros in 2022. Additionally, the company invested 80.7 million euros during the same period.
The global decline in demand was highlighted as a key factor in this decision, with the company feeling the impact of rising labor costs and high energy expenses in Belgium. The influx of cheap imports from Asian countries offering products at much lower prices than domestic production further added to the challenges faced by Beaulieu International Group.
Earlier in April, the company had already announced its intention to close three production sites that were consistently operating at a loss. The closure of Berry Yarns in Komen was confirmed during a special works council meeting, with plans to consolidate yarn production in Comines, France, and China. Additionally, the tufting activity at the artificial grass factory in Oostrozebeke will also cease operations, resulting in the loss of 30 jobs.
“These measures are necessary to streamline our operations and enhance efficiency. They also present an opportunity for us to focus on high-end markets and niche segments, such as artificial grass and yarns, where we can establish a unique position. Through innovation and digitalization, we aim to offer our customers better and more sustainable products,” stated the company in a press release.
Overall, Beaulieu International Group’s strategic decisions aim to position the company for long-term success in a competitive market environment, despite the immediate impact on employees and local communities. The company remains committed to adapting to changing market dynamics and driving innovation in its core business areas.
Keywords: Beaulieu International Group, closure, Oostrozebeke, job loss, financial challenges
Please note: The above article is a rewrite based on the information provided in the original news article.
