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Nonwovens/​Converting

Freudenberg completes Low & Bonar acquisition

The technical textiles manufacturer will be delisted from the London Stock Exchange on 13 May and will be integrated in the Freudenberg Performance Materials Business Group

12th May 2020

Innovation in Textiles
 |  Weinheim, Germany

Transport/​Aerospace, Construction

The global technology group Freudenberg has completed its acquisition of London headquartered Low & Bonar PLC by buying 100% of its shares. Freudenberg submitted an offer for the company in September 2019, which was shareholder approved in November 2019, and the European Commission authorized the merger on 17 April. The technical textiles manufacturer will be delisted from the London Stock Exchange on 13 May and will be integrated in the Freudenberg Performance Materials Business Group.

“Freudenberg strengthens its performance materials business, and with Low & Bonar’s innovative technology it can further expand its technological know-how,” says Dr. Mohsen Sohi, Freudenberg Group CEO.

Dr. Frank Heislitz, CEO of Freudenberg Performance Materials emphasizes: “As a pioneer in spunbonded nonwoven production, Freudenberg has offered its customers materials manufactured with a one-step production process since 1968. Thanks to the two-step process solution from Low & Bonar, we can be even more flexible and individually tailor products to customer specifications. Freudenberg can also expand on its broad product range. This is particularly true for the current application in the construction, interior build out, home textile and automotive sectors.”

“We are also opening new fields for Freudenberg with new applications thanks to Low & Bonar’s complementary technologies,” says Heislitz. The acquisition of Low & Bonar which was founded in 1903 and headquarters in London means Freudenberg Performance Materials now has 35 production facilities in Asia, Europe and North America and employs 5500 people.

www.freudenberg-pm.com

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