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Polymer Group purchases 40% stake in Dominion Nonwovens
31
Oct '09
Polymer Group, Inc. announced it has completed a transaction to purchase the 40 percent minority stake in Dominion Nonwovens Sudamericana, S.A. from its partner, Guillermo E. Kraves. Terms of the transaction were not disclosed.

Located near Buenos Aires, Argentina, PGI Argentina has been operating as a joint venture since 1997. The company began operations with the installation of a multi-beam spunmelt line serving the hygiene and industrial markets of the Mercosur region and added an extrusion line in 2003 to increase the company's fully integrated production capabilities.

Most recently, PGI installed a new wide-width, multi-beam line featuring the latest spunbond technology with capacity in excess of 15,000 metric tonnes per year. PGI purchased a majority share of the business in 1999 and has been focused on growing the business in the Mercosur as part of its overall hygiene leadership strategy in Latin America.

"This investment is a signal of our confidence in the future of our operations in Latin America and the strategic significance of the operations in Argentina," said PGI's chief executive officer, Veronica (Ronee) Hagen. "We have successfully positioned ourselves with supply in each of the major trade regions of Latin America and bringing the Argentina joint venture fully into the PGI ownership structure gives us the ability to fully capitalize on future growth opportunities."

Roland Dominguez, vice president and general manager for PGI's Latin American operations, said, "The people who make up the business of PGI Argentina have worked hard to ensure the business is positioned for success and capable of world-class operations. The investment PGI is making in this business is a sign of confidence in their ability to continue to deliver superior value to our customers in the region."

Polymer Group, Inc., one of the world's leading producers of nonwovens, is a global, technology-driven developer, producer and marketer of engineered materials. With the broadest range of process technologies in the nonwovens industry, PGI is a global supplier to leading consumer and industrial product manufacturers. The company operates 14 manufacturing and converting facilities in 8 countries throughout the world.

Polymer Group Inc

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