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Fiberweb buys geosynthetic nets producer Boddingtons
21 Dec '10
3 min read
Fiberweb expects the acquisition to be materially accretive to earnings per share for the 2011 financial year. This transaction is not expected to have any material impact on Fiberweb's gearing, but will enhance Fiberweb's cash generation once integration has been completed by the end of 2011.
Daniel Dayan, Chief Executive of Fiberweb, commented:
"Boddingtons is in a specialist construction area, which we have highlighted as an important part of our growth strategy. Boddingtons takes us beyond nonwovens in this market, adding successful product ranges and deepening our relationship with and understanding of key distribution and end-use customers. This is an important step in developing a broader, customer-focused growth strategy under experienced and successful management."
Daniel Dayan, Chief Executive of Fiberweb, commented:
"Boddingtons is in a specialist construction area, which we have highlighted as an important part of our growth strategy. Boddingtons takes us beyond nonwovens in this market, adding successful product ranges and deepening our relationship with and understanding of key distribution and end-use customers. This is an important step in developing a broader, customer-focused growth strategy under experienced and successful management."
Fiberweb plc
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