Royal Nijverdal-Ten Cate (PO Box 58, NL-7600 GD Almelo) and TXT Holding nv, in which a group of investors headed by W. Cordia participates, have reached an agreement regarding Ten Cate Technical Fabrics. This company, which shares were sold by Ten Cate to TXT in the beginning of 1994, will now be merged with the recently formed Specialized Textiles Group of Ten Cate. This Group consists of the Ten Cate companies Permess and Ten Cate Protect. TXT will swap its shares in Ten Cate Technical Fabrics for a participation of less than 5% in Royal Nijverdal-Ten Cate. Ten Cate will issue shares for this transaction.

Press release: "The recently completed strategic study made it clear to the new Executive Board that there can be a good profit potential in high tech textiles if continuously investments are made in the market development and product development and emphasis is laid on costprice reduction. As the investors in TXT share this vision, it was agreed upon to join the activities by means of aforementioned share-swap."