Home / Knowledge / News / Textiles / Low & Bonar acquires coated fabrics firm MTX Group

Low & Bonar acquires coated fabrics firm MTX Group

Dec '07
The Company has continued to make good progress throughout the year, driven by organic growth and the successful integration of the acquisitions made during 2006. The Board is pleased to report that trading for the financial year ending 30 November 2007 is expected to be in line with its expectations.

The Technical Textiles Division has seen the benefits of a first full year contribution from, and successful integration of, both Geo-Tipptex and Colbond, the acquisitions made during 2006. The Colbond acquisition was the largest made by the Company in recent years and has performed ahead of expectations at the time of acquisition, including a robust performance from the building and industry segment despite the current difficulties in the US housing market.

The Fabrics business has continued to perform well throughout the year through its continued focus on higher margin products. Specialist Yarns, for the second half of the year, was well ahead of the same period last year.

As anticipated, raw material prices, whilst remaining high, have been more stable than in recent years. The Company continues to expect that additional capacity amongst suppliers will bring a downward pressure to bear on raw material prices in 2008.

The Company also believes that the Floors Division has made good progress for the year. There has been encouraging growth in the sales of branded products, such as Flotex and Tessera, offset by lower sales of lower margin third party sourced products. Overall the impact on margins and profits has been positive.

The preliminary announcement of the results for the financial year ending 30 November 2007 is expected to be made on 18 February 2008.

Commenting on today's announcement, Paul Forman, Group Chief Executive of Low & Bonar said: “We are delighted to be announcing this transaction. MTX Group is an excellent opportunity to pursue our existing growth strategy following the successful acquisition of Colbond last year. The acquisition of MTX Group will add new markets to our existing portfolio, providing exciting cross-selling opportunities and we believe that this acquisition enhances further the Group's long-term growth potential”.

Duncan Clegg, Chairman of Low & Bonar, added: “The acquisition of MTX Group represents a further step forward in our strategy of driving organic and acquisitive growth in our core markets. Low & Bonar is now firmly established as a major competitor in the technical textiles industry, and we look forward to building on that position”.

Low & Bonar PLC

Must ReadView All

Pic: Shutterstock

Textiles | On 18th Sep 2020

Uncertainty high, economic recovery strength varies: OECD

With the pandemic continuing to threaten jobs, businesses, health and ...

Pic: Shutterstock

Apparel/Garments | On 18th Sep 2020

Cambodian garment sector may be hit by CLMV exports slump

The pandemic will significantly affect the exports of Cambodia, Laos, ...

Pic: New Look

Retail | On 18th Sep 2020

New Look creditors approve company voluntary arrangement

The company voluntary arrangement proposal of New Look Retail...

Interviews View All

Anshul Sood, Oceedee

Anshul Sood

‘Indian footwear market is nascent and largely a trend follower’

Karel Williams, Dow Microbial Control

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Rahul Bhadani, Looksgud

Rahul Bhadani

Navigating through catalogues is a bit hasslesome

Ronald Van Den Broek,

Ronald Van Den Broek

Headquartered in Japan, Mimaki Engineering Co. Ltd. manufactures and...

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Gagan Gulati,

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Madison Maxey, Loomia

Madison Maxey

Loomia designs and manufactures soft circuit systems that can be produced...

Johan Berlin, Investkonsult Sweden AB

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

September 2020

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

Advanced Search