Karen McIntyre, editor07.11.16
Lydall executives told investors they hope to capitalize on Texel’s strength in markets like liquid filtration and geosynthetics and grow these businesses in new geographical platforms following the acquisition of the Canadia company. Texel’s sales are currently weighed heavily—about 95%,—in North America where they are split between the U.S. and Canada. Its largest market is geosynthetics, representing nearly 50% of total sales, and other important markets include the fast growing liquid filtration market and automotives.
On Friday, Lydall announced it would purchase Texel, a maker of needlepunched nonwovens, from its parent company ADS for $96 million. The business, which reported sales of $72 million last year, will be integrated into Lydall’s industrial filtration business. The two businesses will be renamed technical nonwovens later this year but for reporting purposes Lydall will group the division sales into two categories—industrial filtration and advanced materials.
Calling Texel an “outstanding company” with a “strong management team and workforce, Lydall CEO Dale Barnhart said
On Friday, Lydall announced it would purchase Texel, a maker of needlepunched nonwovens, from its parent company ADS for $96 million. The business, which reported sales of $72 million last year, will be integrated into Lydall’s industrial filtration business. The two businesses will be renamed technical nonwovens later this year but for reporting purposes Lydall will group the division sales into two categories—industrial filtration and advanced materials.
Calling Texel an “outstanding company” with a “strong management team and workforce, Lydall CEO Dale Barnhart said
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