The textile company Sioen is shutting down part of its yarn production. Energy prices are skyrocketing. As a result, they can no longer compete with foreign countries.
Sioen is the world market leader in coated technical textiles and high-quality protective clothing. Due to the high energy prices, they are forced to shut down part of the production. This concerns half of the production in the Mouscron factory. There they make yarn for industrial textiles.
Textiles are easy to ship, which means that Sioen competes with European countries. In some countries, the government jumps in to help companies. France provides a cheaper nuclear capacity tariff, Italy offers a discount on the energy bill and Spain works with a price ceiling for electricity. In Belgium it remains quiet for the time being and, moreover, competition from Turkey and China is also rising: countries that are much less affected by rising energy prices.
Sioen has no plans for the time being to shut down other factories.