Home / Knowledge / News / Textiles / Fiberweb weaves a deal with Coronor to buy Nordenia
Fiberweb weaves a deal with Coronor to buy Nordenia
21
Mar '09
Fiberweb plc is pleased to announce that it has agreed to acquire the 50% interest of its joint venture partner Nordenia International A.C. in Coronor Composites GmbH (“Coronor”) for a cash consideration of €3.1 million (circa £2.9 million). The sale is conditional upon the approval of the German Cartel office.

Coronor manufactures unique composite materials made of nonwoven fabrics and films primarily for use in the manufacture of medical drapes and its sole manufacturing line is located within Fiberweb's site at Peine, Germany. The acquisition is consistent with the Fiberweb's strategy of simplifying the Group and investing in businesses with potential for sustainable differentiation and good growth prospects.

Coronor's gross assets as at 31 December 2008 were €4.0 million (circa £3.7 million), including €2 million cash (circa £1.9 million) and pre-tax profit for the year ended 31 December 2008 was €0.62 million (circa £0.58 million). The transaction is expected to be earnings neutral for Fiberweb in 2009.

Fiberweb plc

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Larry L Kinn
Suominen Corporation

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Sonam & Paras Modi
SVA

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search