Fibertex Nonwovens, has entered into exclusive negotiations with the principal shareholder of Tharreau Industries, a French manufacturer of nonwovens, to acquire 85% of the shares in the company.
Based in Chemille, France, Tharreau Industries has about 135 employees and reported sales of €53.7 million in 2010. It makes needlepunched and spunlaced nonwovens for hygiene, medical, construction and geotechnical applications, according to its website.
Based in Aalborg, Denmark and owned by Schouw &Co., Fibertex Nonwovens split from its personal care division earlier this year. It includes industrial-related operations in Denmark, Czech Republic and South Africa.
Subject to regulatory approvals, the Tharreau purchase is expected to be complete next month.