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Fibertex negotiates buyout of a 85% stake in Tharreau
05
Mar '11
Fibertex Nonwovens, a wholly owned subsidiary of Schouw & Co., has entered into exclusive negotiations with the principal shareholder of Tharreau Industries, a French manufacturer of nonwovens, to acquire 85% of the shares in the company.

Based in Chemille in western France, Tharreau Industries has about 135 employees. The company is listed on NYSE Euronext Paris and generated revenue of DKK 400 million (EUR 53.7 million) in 2010. No other 2010 figures have been released at the present time.

The negotiations are expected to be completed within the coming two weeks. The transaction will also be subject to compliance with a number of customary formalities. If the transaction is completed as expected, Fibertex Nonwovens intents to submit a mandatory offer to the other shareholders of Tharreau Industries.

Tharreau Industries is a well-managed company with strong know-how and capabilities, especially in relation to the auto industry where it holds a leading position and has strong relations with key customers.

Additional details will be published if the deal is completed.

Schouw & Co.'s 2010 Annual Report is scheduled for release on Thursday, March 10, 2010.

Fibertex Nonwovens

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