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

US merchandise trade with India, 2012–16; Courtesy: USITC

Textiles | On 27th Jul 2017

India becomes US’ 9th largest trading partner in 2016

In 2016, India became the United States’ 9th-largest single-country...

Textiles | On 27th Jul 2017

GST will lead to further increase of MMF prices

The Goods & Services Tax (GST) rolled out on July 1, 2017 is not...

Textiles | On 27th Jul 2017

Global yarn production improved 30% q-o-q in Q1: ITMF

In the first quarter of 2017, global yarn production rose by almost...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

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...

Yash P. Kotak
Bombay Hemp Company

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

July 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

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

Yes No

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

Yes No

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


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



X