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Exal’s Belgium Management Takes Control of Company

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After buying out their German shareholders rim manufacturer Exal NV is now for 100% owned by its management through their Belgian holding company. This took place last March and was caused by differences in views on the strategic and financial future of the company. Next to taking

Exal’s Belgium Management Takes Control of Company

HOOGSTRATEN, Belgium – After buying out their German shareholders rim manufacturer Exal NV is now for 100% owned by its management through their Belgian holding company. This took place last March and was caused by differences in views on the strategic and financial future of the company.

Exal NV was founded in 2002 by German rim maker Schuermann and the Alesa management. Alesa was a Belgian rim maker that filed for bankruptcy in May 2002 and at that time belonged to Rigida.

Next to taking over 70% of the shares from Schuermann the Exal management also substantially raised the private equity of the company. Apart from the resignation of Walter Goldbecker as chairman of the board of directors and Angelika Hunger as director no other changes took place in the Exal management which means that Gust Van der Kerken continues as managing director and Frank Luyten as commercial director.

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