Both companies focus on carded nonwovens technology in a number of segments including hygiene, automotive, filtration, medical, building and construction and a number of synergies between the two business are expected to be realized. In fact, executives describe the acquisition as a unique opportunity to achieve a significantly better economy of scale, both commercially and operationally as well as in terms of research and development.
“It should allow TWE to reach a critical level of business in various business segments. This segmental focus will become stronger in our strategies going forward,” says CEO Jörg Ortmeier. “With Libeltex, TWE adds an interesting and innovative product pipeline to its portfolio.”
Together the two companies should generate about €300 million in annual sales.