09.11.19
Arnhem, The Netherlands
www.low-bonar.com
2019 Nonwovens Sales: $441 million
Key Personnel
Orwig Speldoorn, managing director EMEA; Bart Austin, managing director NAFTA; Gareth Kaminski-Cook, managing director APAC; Marc Krauth, global business director, Interior & Transportation; Clark Haladay, global business director building and industry; Wayne Currie, group HSE director
Plants
Belgium; Germany; The Netherlands; Hungary; China; Asheville, NC
Processes
Extruded spunbond, thermalbond, needlepunch, staple fiber, woven, three-dimensional polymerica materials
Major Markets
Agriculture, building, civil engineering, construction, flooring, filtration, interior, roofing, transportation
This will be the last time Low & Bonar will appear in the top company report. In February 2020, Freudenberg acquired 100% shares of the group after submitting an offer in September. Low & Bonar PLC was delisted from the London Stock Exchange on May 13 at 8 a.m. and the company was integrated in the Freudenberg Performance Materials Business Group.
Founded in 1903 and headquartered in London, Low & Bonar operated 11 production facilities in Asia, Europe and North America. Prior to the Freudenberg sale, Low & Bonar had sold its needlepunched nonwovens business for a cash consideration of €17.3 million to Nimbus, a Netherlands-based private equity fund. The disposal will comprise the sale of the entire issued share capital of Low & Bonar NV and Low & Bonar Kft, which are based in Belgium and Hungary, respectively.
At the time of sale, the company said this disposal will allow the group to reduce its net debt levels and invest in more profitable parts of its business. Daniel Dayan, executive chairman, comments, “We are pleased to announce the disposal of the NPNW business as part of our strategy to simplify our portfolio, pay down debt, and to improve focus on our core business. The disposal of the Civil Engineering division has been a strategic priority for management this year and we are pleased to complete this important milestone as we continue to work to improve shareholder value.”
This sale follows the disposal of the group’s Construction Fibres (“CF”) business (comprising a part of its Civil Engineering division), for a cash consideration of €6.4 million to Adfil NV and Industria BV. Adfil NV, which will purchase the business and production assets, is owned by a private Belgian investor. Industria BV, which will purchase the CF factory site, is owned by parties connected with Adfil NV.
Low & Bonar’s latest investments focused on China. In 2018, the company announced plans to double capacity at the Changzhou site, which was opened in 2016 to make Colback nonwovens.
Even before the investment about 10% of all Colback made was sold into the Chinese market and the new site has benefited all four of Low & Bonar’s business units—Building and Industrial, Civil Engineering, Coated Technical Textiles and Interiors/Transportation. In addition to Colback, the next investment initiative will bring scrim capacity to the site, allowing Low & Bonar to offer new products to the building and industrial and civil engineering market.
www.low-bonar.com
2019 Nonwovens Sales: $441 million
Key Personnel
Orwig Speldoorn, managing director EMEA; Bart Austin, managing director NAFTA; Gareth Kaminski-Cook, managing director APAC; Marc Krauth, global business director, Interior & Transportation; Clark Haladay, global business director building and industry; Wayne Currie, group HSE director
Plants
Belgium; Germany; The Netherlands; Hungary; China; Asheville, NC
Processes
Extruded spunbond, thermalbond, needlepunch, staple fiber, woven, three-dimensional polymerica materials
Major Markets
Agriculture, building, civil engineering, construction, flooring, filtration, interior, roofing, transportation
This will be the last time Low & Bonar will appear in the top company report. In February 2020, Freudenberg acquired 100% shares of the group after submitting an offer in September. Low & Bonar PLC was delisted from the London Stock Exchange on May 13 at 8 a.m. and the company was integrated in the Freudenberg Performance Materials Business Group.
Founded in 1903 and headquartered in London, Low & Bonar operated 11 production facilities in Asia, Europe and North America. Prior to the Freudenberg sale, Low & Bonar had sold its needlepunched nonwovens business for a cash consideration of €17.3 million to Nimbus, a Netherlands-based private equity fund. The disposal will comprise the sale of the entire issued share capital of Low & Bonar NV and Low & Bonar Kft, which are based in Belgium and Hungary, respectively.
At the time of sale, the company said this disposal will allow the group to reduce its net debt levels and invest in more profitable parts of its business. Daniel Dayan, executive chairman, comments, “We are pleased to announce the disposal of the NPNW business as part of our strategy to simplify our portfolio, pay down debt, and to improve focus on our core business. The disposal of the Civil Engineering division has been a strategic priority for management this year and we are pleased to complete this important milestone as we continue to work to improve shareholder value.”
This sale follows the disposal of the group’s Construction Fibres (“CF”) business (comprising a part of its Civil Engineering division), for a cash consideration of €6.4 million to Adfil NV and Industria BV. Adfil NV, which will purchase the business and production assets, is owned by a private Belgian investor. Industria BV, which will purchase the CF factory site, is owned by parties connected with Adfil NV.
Low & Bonar’s latest investments focused on China. In 2018, the company announced plans to double capacity at the Changzhou site, which was opened in 2016 to make Colback nonwovens.
Even before the investment about 10% of all Colback made was sold into the Chinese market and the new site has benefited all four of Low & Bonar’s business units—Building and Industrial, Civil Engineering, Coated Technical Textiles and Interiors/Transportation. In addition to Colback, the next investment initiative will bring scrim capacity to the site, allowing Low & Bonar to offer new products to the building and industrial and civil engineering market.