“The acquisition of Freudenberg’s South American hygiene business provides us with a state-of-the-art production facility as well as with a professional and well-trained workforce, which will help us to better serve the needs of our customers,” states Silverio Baranzano, CEO of Fitesa.
In Brazil, Freudenberg has been successful with nonwovens for the South American hygiene market since 1985. However, in recent years, the hygiene market has shifted from a regional to a global one. “Fitesa is geared to the global hygiene market. Under this umbrella, our current regional business can develop better and grow long-term in the new structures,” says Dr. Frank Heislitz, CEO Freudenberg Performance Materials. “We are very happy that with Fitesa we found a reputable and leading global player in the hygiene business, with similar values to Freudenberg. This will be a good new home for our staff.”
The sale is limited to the hygiene business, which is run by Freudenberg Hygiene Brazil Ltda. The company has 100 employees. Closing is subject to the usual conditions for this type of transaction, including clearance by the antitrust authorities.