Home / Knowledge / News / Textiles / Latvia's Lauma Fabrics acquires German textile firm
Latvia's Lauma Fabrics acquires German textile firm
05
Feb '14
Latvia based fabric manufacturer Lauma Fabrics, operating in the Liepaja special economic zone (SEZ) of the country, has acquired 100 percent shares of the German textile firm Elastic Textile Europe GmbH, one of Europe’s leading elastic materials manufacturers.
 
The Latvian SEZ firm has acquired 100 percent shares of Elastic Textile Europe as well as a 51 percent stake in the associated dye house Elastic&Weskott, and has established a new limited liability firm LE Textile in Germany, reports Dienas Bizness.
 
The two companies had announced a strategic alliance in December 2012, when the Latvian firm declared that it would be acquiring the German textile firm and would establish a new firm that would help Lauma Fabrics in expanding production as well as foray into Western markets.
 
Lauma Fabrics’ board member Eddie Edgins said that along with the acquisition, the Latvian firm has also made changes in the management team of the German firm since last September.
 
The LE Textile firm would retain production of goods manufactured by the German textile firm, but in addition would also be manufacturing high value-added textile goods as well as Lauma Fabrics products, he added.
 
The Latvian firm is one of the leading manufacturers of lace, elastic knitted fabric and ribbons in Europe. Last year, the company’s turnover amounted to € 32.6 million. The firm’s key markets include Belarus, the Baltic nations, Ukraine, Poland, Russia and France.
 
Elastic Textile Europe GmbH, based in Neukirchen, Germany, is one of the leading manufacturers of flexible fabrics and lace, and innovative products for laundry, bath textiles as well as sportswear and technical textiles.
 

Fibre2fashion News Desk - India


Must ReadView All

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search