Home / Knowledge / News / Textiles / Nonwoven fabrics supplier Avgol buys Fiberweb
Nonwoven fabrics supplier Avgol buys Fiberweb
Jan '08
Fiberweb announces that it is in discussions with Avgol about an approach by Avgol regarding a possible offer for Fiberweb.

The proposed offer price is 100 pence per Fiberweb share in cash plus the right to receive and retain a further dividend to be declared by the Board of Fiberweb (in its absolute discretion) for the year ended 31 December 2007 of 2.5 pence per Fiberweb share.

Avgol is an international non-wovens producer listed on the Tel Aviv Stock Exchange. Avgol's proposal is subject to a number of pre-conditions, including due diligence and financing, which must be satisfied before any offer can be made. The Directors of Fiberweb therefore wish to highlight that discussions are at a preliminary stage.

On the basis of this proposal, the Board of Fiberweb has agreed to grant Avgol access to company information to allow it to conduct due diligence. In addition, Fiberweb has entered into a Non-solicitation and Inducement Fee Agreement with Avgol in connection with the possible offer for Fiberweb. Further details of the agreement are set out below.

Based on the information available to it, the Board of Fiberweb, which has been advised by JPMorgan Cazenove, has confirmed that it would be prepared to recommend an offer by Avgol at this level if such an offer were to be made. The price of 100 pence per share represents a premium of 163 per cent to the average Fiberweb closing share price over the month to 21 January 2008 of 38.0 pence.

Must ReadView All

Textiles | On 27th Oct 2016

Teijin Frontier develops Solotex RC lightweight fibre

Teijin Frontier Co. Ltd, fibre products converting company and part...

Tosha Hays addressing the conference. Courtesy: College of Family and Consumer Sciences, UGA

Textiles | On 27th Oct 2016

Industry experts discuss future of fabrics at UGA

Industry experts, researchers and military officials discussed the...

Courtesy: Global Denim Awards

Fashion | On 27th Oct 2016

Anbasja Blanken & Italian mill ITV Denim win GDA

Dutch designer Anbasja Blanken and Italian mill ITV Denim was the...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Sonia Agarwal

‘The terms eco-friendly and organic are common but everyone perceives them ...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Marten Alkhagen
Swerea IVF AB

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search