Home / Knowledge / News / Textiles / Lenzing acquires US monofilament plastics producer

Lenzing acquires US monofilament plastics producer

24
May '07
The Lenzing Group acquired the majority of the assets of US monofilament plastics producer Glassmaster through its subsidiary Lenzing Plastics GmbH. The company had been on offer after Chapter 11 proceedings.

Lenzing Plastics will continue Glassmaster's monofilament business at its present location at Lexington/South Carolina. The company produces cut plastic filaments for synthetic brushes, bristles and fabrics for industry and commerce.

Sales of 7 to 8 million US dollars are expected. The company's main markets are the USA, Europe and Asia. Lenzing will continue operations with only part of the current staff.

Thomas Fahnemann, chairman of the Lenzing management board, reasons: "The acquisition of Glassmaster is another building block in Lenzing Plastics' expansion strategy. The product portfolio of Glassmaster is the optimum extension of our recent takeover of the Hahl Group, whose emphasis is on the production of industrial synthetic brushes as well."

Glassmaster, renamed Hahl Inc, will form the basis of the entire US business of Lenzing Plastics. By this acquisition Lenzing Plastics will secure an interesting customer base and a production site in the US dollar zone a competitive advantage that will become more and more important for the continuation of the company's growth strategy.

Lenzing Group


Must ReadView All

Pic: Shutterstock

Textiles | On 16th Oct 2021

China's economic growth reflects strong resilience, vitality: Li

Premier Li Keqiang has said China is capable and confident of...

Pic: Shutterstock

Apparel/Garments | On 16th Oct 2021

BGMEA urges Bangladesh govt to reskill & upskill RMG workers

The Bangladesh Garment Manufacturers and Exporters Association...

Pic: Shutterstock

Retail | On 16th Oct 2021

UK retail sales rises by 0.6% in Sep 2021; figure 5.6% in Sep 2020

Total UK retail sales rose by 0.6 per cent in September this year...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Textile Industry, Head honchos

Textile Industry
Head honchos

Delay in adopting water sustainability both financially & environmentally...

Seema Mishra,

Seema Mishra

Set up in January 2020 by <b>Seema Mishra</b>, the Kasrawad Art Cluster...

Abdullah Mohammad Saad Hossain,

Abdullah Mohammad Saad Hossain

Saad Group is a leading vertically integrated textile group in Bangladesh. ...

Shivaani Jain,

Shivaani Jain

Established in 2015, Once Upon A Trunk is a one-stop-shop with almost...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Sunita Shanker, Label Sunita Shanker

Sunita Shanker
Label Sunita Shanker

Inspired by the rich traditional crafts of India, Sunita Shanker’s work is ...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by <b>Aprajita Toor</b> were born out of a deep desire to...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

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

Leave your Comments


October 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search