Freudenberg plans to acquire textile manufacturer Low&Bonar
Fredenberg recently made a wholly-owned acquisition offer for Low & Bonar, a company located in London, England. Low & Bonar is a technical textiles manufacturer with global operations. Freudenberg will further expand its technical expertise in the field of nonwovens and open up new business areas through this acquisition.
It is understood that in the last fiscal year, Low & Bonar had nearly 1,900 employees and global sales of approximately 350 million pounds (approximately 394 million euros). The proposed acquisition is subject to, among other things, approval by Low & Bonar’s shareholders and approval by antitrust authorities. Low & Bonar is listed on the London Stock Exchange and is a FTSE All Share Index company.
Freudenberg’s acquisition is to strengthen its technology in the field of non-woven fabrics. Dr. Frank Heislitz, CEO of Freudenberg Performance Materials, said: “As a pioneer in the field of spunbond production, Freudenberg has been providing customers with solutions based on one-step production processes since 1968. Low&Bonar two-step process solutions It will provide us with greater flexibility and allow us to customize more personalized solutions according to customer requirements.” In addition, Cologne will be able to provide customers with a wider range of products to fully meet the needs of construction, architectural interiors, home textiles and Application requirements of the automotive industry. At the same time, if the acquisition is completed, Freudenberg can further expand its global influence through Low & Bonar’s global layout.
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