PGI Acquires Fiberweb
Charlotte-based nonwovens producer Polymer Group Inc. (PGI) has acquired Fiberweb Plc, a
London-based nonwovens and geosynthetics producer. PGI made an initial offer to purchase the
company in August (see
Makes Offer To Purchase Fiberweb,"
TextileWorld.com, Aug. 27, 2013).
Fiberweb's portfolio of filtration, building and construction, agriculture, healthcare, technical fabrics, geosynthetics and hygiene products will complement PGI's portfolio of nonwovens for the hygiene, wipes, medical and industrial markets.
The acquisition expands PGI's global presence and makes it the largest nonwovens manufacturer in the world. The company now operates in 13 countries across North America, South America, Europe and the Asia-Pacific region, and has approximately 4,000 employees.
"This is a milestone in our proud history and a critical moment for our industry," said J. Joel Hackney Jr., CEO, PGI. "PGI and Fiberweb are stronger together, and we are now well-positioned to deliver on the industry's growing demand for global scale, innovation and leadership.
"We are committed to investing and growing our presence in our key market segments as well as those in which Fiberweb operates," Hackney added. "We look forward to welcoming the Fiberweb team as they join us in our mission of creating a safer, cleaner, healthier world for our families and communities."
November 19, 2013