balta

Balta Group announces name changes following divestment

Floorcoverings group Balta has announced that its corporate name will change to Belysse Group nv. The new commercial name referring to the business will be Belysse.

This follows the divestment of Balta Group nv’s Rugs, Residential polypropylene and Non-Woven businesses, together with the Balta brand, to Victoria PLC, which concluded on 4 April 2022. The company will continue to be listed on Euronext as BALTA, until the new corporate name is approved by the Extraordinary General Meeting (currently foreseen on the 24 October 2022).

Belysse designs and manufactures sustainable textile floorcoverings for commercial and residential applications and commercializes its products focusing 90% on North America and Europe under premium brands Bentley (US), modulyss, arc edition and ITC (Europe). Headquartered in Waregem, Belgium, Belysse employs nearly 1300 people and operates three manufacturing sites in Belgium (Tielt and Zele) and the United States (Los Angeles).

With its origins deeply rooted near the river Lys, in the heart of Flanders’ renowned textile industry, Belysse will build on its strong legacy in soft flooring, delivering premium quality and design to customers across the world. The company will continue to invest in resilient growth, with an even greater focus on innovation, sustainability, manufacturing optimisation and more agile digital solutions.

Cyrille Ragoucy, CEO and Chairman of the Board of Balta Group nv said: “The renaming of our company into Belysse embodies the transformation of our company into a more agile and resilient business. Belysse is a team of 1300 proud and dedicated soft flooring experts on both sides of the Atlantic who are passionate about design, quality and innovation. We are committed to continuing to play an important role in the textile flooring industry.”

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