“This high-quality business fits perfectly with our growth strategy and we look forward to welcoming the JM Glass Textiles team to the Preiss-Daimler family,” says Jürgen Preiss-Daimler, founder and owner of Preiss-Daimler. “Customers can expect continued stable supply from Sweden with innovative products, strong brands and sales and marketing support in the different markets.”
Enno Henze, senior vice president of JM’s Engineered Products business, says the Glass Textiles business and its employees have made significant contributions to JM over the years.
“We are confident our employees, customers and suppliers can look forward to an excellent future with the Preiss-Daimler group,” Henze says.
The acquisition is expected to close on Dec. 31, 2014. Terms of the agreement were not released.