Freudenberg bidding for UK?s Low & Bonar?
In an effort to strengthen its nonwovens business, German technology group Freudenberg has made an offer to acquire Low & Bonar PLC, a London-based manufacturer of technical textiles.
The acquisition, Freudenberg announced 20 Sept, will allow the company to further expand its technical expertise in spunlaid nonwovens and improves its product portfolio especially in existing applications for the construction, building interiors, home textiles and automotive sectors.
“Low & Bonar’s two-step process solution will give us greater flexibility and allow us to more individually tailor our solutions to customer requirements,” explained Dr. Frank Heislitz, Freudenberg performance materials CEO.
London-listed Low & Bonar generated global sales of approximately £350m (€395m) last year and employs nearly 1,900 people, across 11 production facilities in Asia, Europe and North America.
» Publication Date: 08/10/2019
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