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ITG completes acquisition of BST Safety Textiles
03 Apr '07
1 min read
International Textile Group Inc announced that it has completed the previously announced acquisition of BST Safety Textiles (BST) from an affiliate of WL Ross & Co LLC (WL Ross).
BST will combine with the company's Safety Components business and operate as part of ITG's newly formed Automotive Safety business unit.
BST, based in Maulburg, Germany, is a leading international manufacturer of flat and one piece woven (OPW) fabrics for automotive air bags as well as narrow fabrics for seat belts and military and technical uses.
BST operates seven facilities located in the United States, Germany and Poland. BST employs approximately 1,250 people worldwide. BST had 2006 net sales of approximately $270 million.
Joseph L. Gorga, President & CEO of ITG, said, "We are excited to have completed the purchase of BST. The global leadership position and product expertise of the combined BST and Safety Components establish a new powerhouse in the automotive safety components industry and create exciting growth opportunities for ITG. The integration of these companies is underway and moving at an aggressive pace."
BST will combine with the company's Safety Components business and operate as part of ITG's newly formed Automotive Safety business unit.
BST, based in Maulburg, Germany, is a leading international manufacturer of flat and one piece woven (OPW) fabrics for automotive air bags as well as narrow fabrics for seat belts and military and technical uses.
BST operates seven facilities located in the United States, Germany and Poland. BST employs approximately 1,250 people worldwide. BST had 2006 net sales of approximately $270 million.
Joseph L. Gorga, President & CEO of ITG, said, "We are excited to have completed the purchase of BST. The global leadership position and product expertise of the combined BST and Safety Components establish a new powerhouse in the automotive safety components industry and create exciting growth opportunities for ITG. The integration of these companies is underway and moving at an aggressive pace."
International Textile Group Inc
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