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New Polymer Group operations started

04
Dec '09
Polymer Group Inc (PGI) announced it has completed the initial phase of the previously announced acquisition of the Barcelona, Spain-based Tesalca-Texnovo nonwovens businesses from Grupo Corinpa, S.L.

With the closure of the sale, the company began operations of its new wholly owned subsidiary, PGI Spain, strengthening its position as the global leader in the hygiene market by giving it a new presence in the European market with state-of-the-art technology.

“We are very pleased to have completed this phase of the transaction and to begin operations of our new PGI subsidiary,” said Veronica (Ronee) Hagen, chief executive officer. “This acquisition furthers our strategy of being the global hygiene leader, and also strengthens our medical and industrial businesses in the region.”

The acquisition adds about 280 employees to PGI's global employee base of more than 3,000. It also expands its manufacturing capabilities with presence in Tarragona, Spain consisting of six spunlaid lines serving the hygiene, medical and industrial/agricultural segments. The additional capacity brings PGI's global spunlaid capacity to more than 285,000 metric tonnes.

Jaime Carreras, previously general manager for Tesalca-Texnovo, has been named general manager of the new PGI Spain. He has been with Tesalca-Texnovo for over 20 years.

Polymer Group Inc (PGI)


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