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Xentrys to acquire Propilan's staple fibres business

15
May '08
XENTRYS Business Unit Staple Fibers, part of the XENTRYS Group (formerly Domo Fibers and Yarns) has reached an agreement with Propilan SA, a Spanish company active in the development, production and sales of PP and PE staple fibers, to acquire the staple fiber business of Propilan.

This acquisition will substantially broaden the product portfolio of the XENTRYS Group, taking the consolidated group turnover to 180 Mio Euro annual sales in specialist fibers and yarns.

The two companies have signed a binding letter of intent and will in the next weeks finalize all details. XENTRYS Barcelona SA, a new company from XENTRYS currently under development, will take over all assets from Propilan, including all personnel and the complete customer portfolio. Until that date, Propilan SA will continue its normal course of business. All customers, suppliers and other stakeholders will be notified that until further notice Propilan SA continues business as usual.

Propilan, located near Barcelona in Spain, annually produces around 16-18.000 Tons of staple fibers, of which a vast majority PP fibers. The company develops and produces fibers in all colors, from 2.2 to 300 denier, for a.o. carpet, automotive, construction, geo- and agrotextiles and spinning applications. XENTRYS subsidiary in Spain, XENTRYSTM Barcelona SA, will incorporate all of the assets and personnel and continue the business of Propilan.

Jaume Llado, general manager Propilan: The future with XENTRYS is very promising, together we will form one of the largest groups in Europe and worldwide in PP and PE staple fibers and we will be able to increase our service level to all our customers.


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