Home / Knowledge / News / Textiles / Praedium buys Spanish acrylic fibre producer Montefibre
Praedium buys Spanish acrylic fibre producer Montefibre
28
May '15
Praedium, the Spanish investment Group which owns Nylstar, a producer of polyamide yarns and fabrics, has acquired acrylic fibre manufacturer Montefibre Hispania SA.

Praedium has invested €2 million to acquire a 90 per cent stake in Montefibre, which is based in Burgos, Spain, while the rest of the stake will remain with promoters of Montefibre.

“Alfonso Cirera, chairman of Praedium has been named president of Montefibre, while Rovira will continue to remain as CEO,” a Praedium press release informed.

As a strategy, Praedium plans to revive the Leacril brand and thereby ensure the continuity and viability of its investment in the Spanish plant in the future.

In the first phase, Praedium will restart the acrylic plant and relaunch its commercial network and in the second stage, through strategic partners, it will invest €100 million to set up a carbon fibre business.

With the reopening of the acrylic plant, Montefibre will once again market its Leacril brand, known in more than 48 countries and one of its most valuable assets.

Praedium said it was also able to revive the Meryl brand of Nylstar, within 18 months of taking over the company.

“As a result of which, Meryl is being used again in more than 200 apparel brands, mainly in the women’s and sportswear markets,” it added.

Montefibre is expected to produce 45,600 annual tons of acrylic fibre which is planned to be sold to over 210 customers in 30 countries and generate annual revenues of €110 million.

Alfonso Cirera said, “Montefibre will focus on the Leacril brand with a focus on added-value products and all in all, we want to build a long term sustainable project as we have the experience as well as the will."

In the second phase, Montefibre will set up a carbon fibre business, for which the group is seeking strategic partners in each of the fields of application like infrastructure, automotive, wind power, naval and defense.

Montefibre has its own technology for the production of carbon fibre from acrylic and plans to allocate part of the capacity to produce 3,000 annual tons of industrial quality carbon fibre.

Praedium specialises in investments in various business areas such as real estate, logistic platforms for e-commerce and shops.

It’s most significant investment is in the fashion industry, where it is present through Nylstar and its most ambitious project - Nylstar Fashion Group. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Rieter

Textiles | On 22nd Aug 2017

Rieter unveils new generation of RDB-D 50 draw frame

Rieter, a producer of textile machinery and automobile components,...

Courtesy: Alizilla

Textiles | On 22nd Aug 2017

‘New Retail’ strategy Alibaba’s focus in next 15 years

Alibaba executive vice chairman Joe Tsai has said that the next 15...

Courtesy: Eurovet/ Interfiliere Shanghai

Textiles | On 22nd Aug 2017

Interfiliere Shanghai to focus on textile printing

Interfiliere Shanghai, the leading trade show for intimates,...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Steve Cole
Xerium Technologies

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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

August 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search