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Velcro Companies acquires Alfatex & Gevaert
17
Jun '15
Velcro Companies, a global leader in fastening solutions, today announced that it has acquired Alfatex and also another company, named Gevaert, both of which are Belgium based.

Alfatex is a manufacturer of hook and loop fasteners in the medical, automotive and industrial sectors, while Gevaert produces elastic and rigid webbings for the apparel industry.

The move, according to a Velcro press release, will expand Velcro Companies’ presence in Europe, broaden its product portfolio and open the way for investment in research and development.

“We are rapidly building global capabilities to reach greater scale and efficiency, while at the same time strengthening our local presence to remain close to customers,” said Fraser Cameron, CEO at Velcro.

“This approach will help us respond to customer needs, spot opportunities for new product innovations and improve our ability to deliver for customers quickly and efficiently,” he added.

Alfatex has an extensive portfolio of specialised products that ranges from bespoke straps for bandages to customised solutions for the automotive industry.

On the other hand, Gevaert has been a leading manufacturer since 1899, specialising in webbings for braces, belts, and elastic waistbands primarily for apparel brands.

“These acquisitions are part of Velcro Companies’ strategy to expand its global platform, strengthen its operational capabilities and accelerate new product development,” it observed.

In 2014, Velcro Companies expanded its presence in Brazil and Latin America through an acquisition and the opening of a new office in Sao Paulo.

Cameron noted, “With three acquisitions in the past 18 months, Velcro has emerged as the leading company in the global fastening industry, with a focused strategy to use our agility, creativity and proximity.”

Velcro Companies is a technology-driven, global organisation providing fastening solutions that solve problems in simple, elegant and surprising ways for businesses and consumers around the world.

With more than 50 years of experience, Velcro owns over 400 active patents and numerous trademarks, including the Velcro trademark which is registered throughout the world.

It offers global resources for world-class solutions, with manufacturing locations in Spain, the United States, Canada, Mexico, and China and sales offices around the world. (AR)

Fibre2fashion News Desk - India

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