In May 2018, one of the world’s largest nonwovens producer was created through the marriage of the companies once known as Pegas Nonwovens and First Quality Nonwovens. The two companies joined forces after R2G, the Czech-based private equity firm that had acquired Pegas a few months earlier purchased First Quality Nonwovens.
At the time of the FQ acquisition, Michael Smrek, CEO of R2G said, “We believe strongly in the nonwovens business. This transaction will enable us and our group companies to support our global customers across four continents. Post transaction, we will have state-of-the-art production facilities and unrivalled know-how and R&D expertise to ensure that our customers benefit from the premium products we offer and the joint innovation and synergies that this combination will bring. When we acquired Pegas, we said that this was the first step to building a global platform. This transaction is the second step and we look forward to now investing into our global platform and the people that have made the production companies a success.”
Together, the two companies now made about 250,000 tons of
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