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Freudenberg & Vilene JV buys out 'Nantong Hymo' - Chinese shirt interlining market leader

17
Jun '05
Germany based Freudenberg & Vilene International Ltd, Hong Kong, the long established joint venture of Freudenberg and Japan Vilene Co, acquired 100% of the shares of Nantong Hymo Co in Nantong, Jiangsu Province, China. The acquisition was concluded in a signing ceremony on April 29, 2005, in Nantong, China, in the presence of high government officials from Beijing and Nantong as well as top managers from Freudenberg and Japan Vilene Co.

Nantong Hymo is the market leader in shirt interlinings in China as well as one of the leading finishing companies for woven and weft interlinings in China. It was established in 1985 and is today renowned in China and beyond for its high quality finishing technologies as well as for its exceptional service level and delivery reliability. In 2004, Nantong Hymo generated 22 USD mill. sales, produced over 30 sqm mill. of interlinings and employed 292 employees.

The acquisition will further extend the leading market position of Freudenberg & Vilene as dedicated supplier to the garment industry and further speed up its growth in Asia as the world's largest textile region.

After completion of the acquisition, Freudenberg & Vilene's interlining business will have some 1000 employees throughout Asia, will operate five factories in Suzhou/China, Nantong/China, Seoul/Korea, Yang-Mei/Taiwan and Chennai/India and will generate sales of 150 USD mill. Freudenberg jointly with Japan Vilene is world market leader in Interlinings and offers "Global Interlining Solutions" under the Vilene brand.


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