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BBA Fiberweb Demerger Complete

November 22, 2006

BBA Group has completed the demerger of its nonwovens division Fiberweb plc and has changed its name to BBA Aviation. Fiberweb plc's issued shares now have a separate listing London Stock Exchange, where they will be traded under the ticker symbol FWEB.
BBA announced late last year it would separate itself from its nonwovens unit, which operates facilities throughout the world and reported sales in excess of $1 billion last year, to better focus on its aviation handling business. The decision to demerger the business reportedly came after the group failed to fetch a high enough asking price for the nonwovens unit.
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