SIOEN ACQUIRES THE URSUIT GROUP OF COMPANIESPRESS RELEASE - ARDOOIE, 7 DECEMBER 2016 - 17H45

SIOEN INDUSTRIES NV, WORLDWIDE SOLUTION PROVIDER IN TECHNICAL TEXTILES, IS PLEASED TO ANNOUNCE THE ACQUISITION OF THE URSUIT GROUP OF COMPANIES, A FINNISH MANUFACTURER OF DRY SUITS FOR DIVING, FISHING AND PROFESSIONAL USE IN AN EXTREME ENVIRONMENT.

Today Sioen Industries NV and Ursuk Oy of Finland have reached an agreement for the acquisition of 100 % of the shares of this group of companies.

Ursuk Oy (operating under the brand name Ursuit) is a company with headquarters in Finland and production entities both in Finland and Estonia.

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SIOEN INDUSTRIESSINCE 1960

GROWTH

STOCK QUOTED

THE OF SIOENA DIVERSIFIED STOCK QUOTED GROUP WITH AN EXTENSIVE PORTFOLIO OF PRODUCTS AND ACTIVITIES: SPINNING, WEAVING AND COATING OF TECHNICAL TEXTILES, MANUFACTURER OF PROFESSIONAL PROTECTIVE CLOTHING AND PRODUCER OF FINE CHEMICALS.

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colleagues3 500

For further information/Financial information/Investor relationsGeert Asselman, CFOSioen Industries NV, Fabriekstraat 23, B-8850 Ardooie - Tel. +32 (0) 51 74 09 80E-mail: corporate@sioen.com Website: www.sioen.comFinancial servicing is provided by KBC Bank, BNP Paribas Fortis Bank, ING Bank, Belfius Bank and Bank Degroof Petercam.

Ursuit is active in the development, design, production, marketing and distribution of state of the art dry suits for diving, fishing and professional use in an extreme environment. Ursuit has, amongst those professional users an outstanding reputation for quality and durability. Their drive and passion for quality and technical advanced solutions have earned them a place amongst the market leaders in this field.

Mr. Ville Rantala, the current owner and driving force behind the success of Ursuit, is enthusiastic about joining forces with Sioen Industries as this opens a lot of new opportunities for the whole team.

It is our common goal to further invest in the worldwide development of the Ursuit professional brand. This agreement offers Sioen the opportunity to enter the Scandinavian market with a professional and experienced team to promote the Sioen portfolio of products.

Sioen is happy to announce that Mr. Ville Rantala has agreed to continue to manage and develop the business as a member of the Sioen Industries group.

Ursuit group of companies forecasts for 2016 an EBITDA of approximately 2.6 million Euro. The company’s business plan shows a double digit growth rate for the coming years. This transaction has a value of around 22.4 million Euro.

In addition to this, Sioen has acquired real estate for a total value of 3 million Euro.

The Sioen Group manages the complete industrial chain, from yarn to finished product. This gives us an edge over our competitors, enabling us to respond quickly to customer needs and making us less dependent from external suppliers.

One of the brands of Sioen is Mullion, specialized in maritime safetysuits and lifejackets. The Mullion products are an addition to the extensive Ursuit product portfolio.

All information on Sioen can be found on www.sioen.com. Newsflashes and announcements of Sioen Industries can also be found on:

For further information/Financial information/Investor relations Geert Asselman, CFO Sioen Industries NV, Fabriekstraat 23, B-8850 Ardooie - Tel. +32 (0) 51 74 09 80E-mail: corporate@sioen.com Website: www.sioen.com Financial servicing is provided by KBC Bank, BNP Paribas Fortis Bank, ING Bank, Belfius Bank and Bank Degroof Petercam.