BBA Group Spins Off Fiberweb
London-based holding company BBA Group plc has spun off its Fiberweb nonwovens manufacturing unit
into a separate public company. The spin-off comes as the final step in BBA’s process of separating
Fiberweb from its Aviation Services business.
“This demerger will allow us to sharpen our focus on our ongoing turnaround program and on building the leading market positions that Fiberweb enjoys today,” said Daniel Dayan, CEO, Fiberweb plc.
Fiberweb’s new management team includes Dayan; Malcolm Coster, non-executive chairman; Simon Bowles, CFO; and Richard Stillwell, Peter Hickman and Brian Taylorson, non-executive directors.
Fiberweb currently has two divisions that operate nine production sites. In the United States, the Industrial Division is located in Old Hickory, Tenn., and the Hygiene/Medical Americas Division — which recently completed the upgrade of its spunlace line at its Bethune, S.C., facility — is based in Simpsonville, S.C.
In other news, Fiberweb recently announced it has entered into an agreement with Cincinnati-based Procter & Gamble (P&G) for the supply of around 25,000 metric tons of spunbond nonwoven products for P&G consumer goods applications.