Fiberweb is in advanced discussions with leading Brazilian spunbond producer Fitesa and Fitesa’s parent company Petropar, concerning the establishment of a 50/50 joint venture focused primarily on the market for hygiene fabrics for use in diapers and feminine care products in the
Such a joint venture would comprise Fitesa, the third largest producer of spunbond nonwovens in South America at its site at
The joint venture plans to expand its operations in the
Completion of any such transaction would require various consents, including approvals from the boards of both parties and from the shareholders of both Fiberweb and Petropar. There can be no certainty that such a transaction will be completed or about the likely timetable for completing negotiations and obtaining consents.