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Thermore
Thermore

27th October 2014, Aarhus

Fibertex Nonwovens acquires US nonwoven manufacturer

Headquartered north of Chicago, IL, the company  manufactures and sells nonwovens in various product areas of the US market.Fibertex Nonwovens, a subsidiary of Schouw & Co industrial group, has agreed to acquire all shares in Non Woven Solutions (NWS), a US nonwovens manufacturer. As part of the transaction worth USD 25 million, a previously leased property has been acquired.

“Acquiring NWS is an important strategic step for us. In recent years, Fibertex Nonwovens has increasingly focused on special-purpose products for the composites, automotive and other industries. NWS is a perfect match for this strategy,” explained Jørgen Bech Madsen, CEO, Fibertex Nonwovens.

“There is a trend in the automotive industry for a growing proportion of US cars to be manufactured on European platforms. In Europe, we are not a direct supplier to the car makers, but rather to their major international sub-contractors, and for some time those customers have indicated that they would like to see us offer our know-how and expertise in North America, too. Acquiring NWS will enable us to follow customers expanding into North America, while also gaining access to several new business areas that offer a large development potential.”

Innovative business

The current NWS management team of highly experienced industry experts will remain with the company under Fibertex’s ownership.

Tom Leineberg, one of the NWS founders, commented: “Fibertex Nonwonvens is an innovative business with very strong ties to the automotive industry, and by joining forces with NWS’s current production and customer base, it will have good opportunities for continuing the successful development of the North American market.”

Headquartered north of Chicago, IL, in 2013 the company generated revenues of around 17 million. It manufactures and sells nonwovens in various product areas of the US market.

Significant transformation

Fibertex Nonwovens is committed to developing nonwoven materials that form a necessary and natural component of its customers' production processes. The company expects that the strong portfolio of new projects and products that has enabled it to lift its earnings in recent quarters will gradually have a positive effect on its performance in the North American market.

“Fibertex Nonwovens has undergone significant transformation in recent years, and I’m very pleased with how the company has developed. We don’t expect any cost synergies from the NWS acquisition, but it will add 10% to Fibertex Nonwovens' revenue, and we will get a significant point of entry to the US market,” said Jens Bjerg Sørensen, President of Schouw & Co.

www.schouw.dk

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