Shalag Industries has signed agreement to acquire 100% of the shares of Texsus S.P.A, a leading manufacturer of air-through bonded nonwovens and laminated products primarily for the hygiene market. Texsus, located in Pistoia Italy, will be acquired by Israel-based Shalag within the next few weeks.
The acquisition will make Shalag Group a large, global producer of air-through bonded nonwovens with three production sites in Israel, North Carolina and Italy. Its production capacity will be close to 60,000 tons per annum.
"We appreciate Texsus' reputation in the market and believe that the high synergy between the companies will allow Shalag Group to provide its customers over the world with the best global services as well as increased company innovation and technology capabilities," says Ilan Pickman, CEO.
Texsus will be operated as a subsidiary of Shalag Industries Ltd. and will continue to be managed by Federico Micheloti and on the marketing side by Barbara Bulleri.