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Ten Cate Expands Artificial Grass Activities With Mattex Acquisition

The Netherlands-based Royal Ten Cate has completed its acquisition of the United Arab Emirates-based Mattex Leisure Industries for $178 million.

Mattex, a manufacturer of artificial grass fibers, will be incorporated into TenCate Thiolon Middle East LLC, a new company that will be wholly integrated into Royal Ten Cate’s Grass Group.

The company expects the new business to make a strong contribution to its net profit as a result of TenCate Thiolon’s low cost base and favorable local tax regulation.

April 10, 2007