The week in business: 27 June
Colruyt takes stake in ZEB fashion chain, Barry Callebaut opens chocolate school in East Flanders and an overview of the rest of the week's business news
Retail – Zeb
Meanwhile, the Colruyt family has acquired a stake in the British MyOptique online eyewear products.
Aerospace – Asco
The Zaventem-based aerospace company is investing €100 million this year to launch the production of aircraft components in its Stillwater plant in the US. The company has also plans to increase production capacity and acquire new tools for its local facilities to meet growing demand in the Airbus and business jets sectors.
Chemicals – Emulco
The Ghent-based chemical products group has launched production of a state-of-the-art liquid polyisobutene polymer in partnership with Germany’s BASF group. It is said to represent a breakthrough in terms of resistance and insulation. The new product is expected to be used extensively in the petroleum, cosmetics and food industries.
Chocolate – Barry Callebaut
The Swiss-owned group has inaugurated a €4.5 million “chocolate academy” in Lebbeke, East Flanders, to train and teach future cooks and chefs on best practices and to develop research on the product.
Food service – Starbucks
The US-based chain of coffeehouses inaugurated its 14th outlet in Belgium last week in the centre of Leuven. The other stores are located at Brussels Airport, the main trains stations and in the city centres of Ghent, Brussels and Antwerp.
Investment – Flanders
Some 65% of the country’s 175 inward foreign investments projects took place in Flanders last year according to a recent report by Ernst & Young.
Mail order – Neckermann
Twenty workers for mail order company Neckermann.com in Zwijndrecht, Antwerp province, have been told they will not be paid for the month of June. The Dutch-owned parent company declared bankruptcy earlier in the week. Under Dutch law, banks are preferred creditors, and the company had a large outstanding mortgage on buildings. When that was paid off, “there was no money left over for salaries,” according to a union representative.
Retail – Zeb
Colruyt supermarket has acquired 50% of the 46-store fashion chain Zeb. The move allows Colruyt to diversify further in non-food retailing, after developing the Dreambaby chain, Dreamland toy stores and Collishop distribution services. Meanwhile, the Colruyt family has acquired a stake in the British MyOptique online eyewear products.
Photo courtesy Vendis Capital
